Table of Contents
TABLE OF CONTENTS
1 Table of Contents 2
1.1 List of Tables 4
1.2 List of Figures 4
2 Introduction 5
2.1 Global Markets Direct
Report Coverage 5
2.2 What Is This Report About? 5
2.3 How To Use This
Report 5
3 Brazil Petroleum Fiscal Environment 6
3.1 Governing Law
6
3.2 Licensing Authority 6
3.3 National Oil Company 6
3.4
Contract Type 6
3.5 State Participation 6
4 License terms 7
4.1
Exploration 7
4.1.1 Area 7
4.1.2 Duration 7
4.1.3 Relinquishment
7
4.1.4 Exploration obligation 7
4.2 Production 7
4.2.1 Area 7
4.2.2 Duration 7
5 Key Fiscal Terms 9
5.1 Royalty 9
5.2 Bonuses
9
5.3 Rentals 9
5.4 State Participation 10
5.5 Taxation 14
5.6
Deductions and Depreciation 14
5.7 Withholding Tax 15
5.8 Ring Fence
15
6 sAMPLE cASHFLOWS cALCULATIONS 16
7 APPENDIX 17
7.1
Methodology 17
7.2 Definitions 17
7.2.1 Units of Measure 17
7.2.5
Definition 17
7.3 Contact Us 18
7.4 About Global Markets Direct 18
7.5 Disclaimer 18
1.1 List of Tables
Table 1: Brazil,
License Rental Rates, 2007 9
Table 2: Brazil, Special Participation (In
Reais) in First Year, 2007 11
Table 3: Brazil, Special Participation (In
Reais) in Second Year, 2007 12
Table 4: Brazil, Special Participation (In
Reais) in Third Year, 2007 13
Table 5: Brazil, Special Participation (In
Reais) After Third Year, 2007 14
Table 6: Brazil, Depreciation Rate in Oil
And Gas Industry, 2007 15
1.2 List of Figures
Figure 1: Brazil,
Upstream Oil & Gas Fiscal Regime (Royalty/Tax), Sample Cashflows, 2005-2016
16
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