Types of ﬁscal regime in hydrocarbon exploration and production
The choice of the right ﬁ scal regime represents the main object of the energy policy concerning hydrocarbon exploration and production for the state government. For the operator and service companies it represents the terms and conditions for practical conducting of the process in whole. This paper analyse aspects of agreements used in the petroleum indus-try. Elements of agreement, regardless of regime, have been described together with their advantages and disadvantages. Due to the fact that the ﬁ scal regime has to be chosen to attract companies willing to invest in exploration and produc-tion, it represents a relevant part of the business strategy and also a base for the decision making process during start up. It has to minimize the risk for the both parties involved and maximize the state’s share during the exploitation phase. For the companies, it has to be attractive enough to balance risks during the exploration phase with proﬁ ts gained during the exploitation phase. The aim of this paper is to show the existing ﬁ scal systems in the petroleum industry and to analyze the process for concluding a contract regarding the exploration and production of hydrocarbons. An overview of diﬀ er-ent business practices in the oil and gas industry with a detailed breakdown of the contract terms between the parties involved have been described in the paper. The aim of this paper is to show the diﬀ erent possibilities of ﬁ nancial regimes which could help during the negotiation process for conducting hydrocarbon exploration and production for everyone involved.
How to Cite
Copyright (c) 2016 Rudarsko-geološko-naftni zbornik
This work is licensed under a Creative Commons Attribution 4.0 International License.
Authors who publish with this journal agree to the following terms:
In agreeing this form, you certify that:
- You read the ethical codex of the RGN zbornik available at journal web.
- You submitted work is your original work, and has not previously been published and does not include any form of plagiarism.
- You own copyright in the submitted work, and are therefore permitted to assign the licence to publish to RGN zbornik.
- Your submitted work contains no violation of any existing copyright or other third party right or any material of an obscene, libellous or otherwise unlawful nature.
- You have obtained permission for and acknowledged the source of any illustrations, diagrams or other material included in the work of which you are not the copyright owner.
- You have taken due care to ensure the accuracy of the work, and that, to the best of your knowledge, there are no false statements made within it.
- All co-authors of this submitted work are aware of, and in agreement with, the terms of this licence and that the submitted manuscript has been approved by these authors.
You retain copyright in your submitted work, according to journal license policy (CC-BY). By signing this form you agree that RGN zbornik may publish it under the publication licence. In summary the licence allows the following:
Anyone is free:
- To copy, distribute, display, and perform the work.
- To make derivative works.
Under the following conditions:
- The original author must always be given credit.
- The work may not be used for commercial purposes.
- If the work is altered, transformed, or built upon, the resulting work may only be distributed under a licence identical to this one.
Exceptions to the licence
In addition to publishing the work printed under the above licence, RGN zbornik will also enable the work to be visible online.
The journal editorial can change the licence rules anytime but it cannot retroactively restrict author(s) rights.