Three shallow water contracts tendered in Round 1.2 are estimated to contribute US$35.271 billion dollars to State revenue in Remunerations and Taxes1. The Operators (ENI, Hokchi and Fieldwood) are currently implementing approved Development Plans, from which information regarding volumes estimates and cost estimates of the hydrocarbons to be extracted are presented 2.
Through April 2019, these three Operators have made investments for US$723 million3, principally in appraisal studies. Total Programmed Investment represents US$18.346 billion across valid contract period4.
These projects have payment obligations to the State in the form of Remunerations and Taxes, whose terms were determined during the contract bidding process5.
Given the production profiles and investment estimates provided by the Contractors, income to the State could reach US$8.444 billion by 2024, and US$35.271 billion through the valid contract period 6.
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Source: National Hydrocarbons Commission (CNH)
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