AN OVERVIEW OF THE FOREIGN EXPLORATION AND DEVELOPMENT CONTRACTS OF THE HUNGARIAN OIL COMPANY FROM THE ASPECT OF TAXATION

F. Mádai

Аннотация


The Hungarian Oil and Gas Company (MOL), the partially state- owned successor of the Oil an Gas Trust, has an accumulated experience, good staff and equipment-park for oil production. The MOL is one of the largest among the Hungarian companies and it is the only integrated oil company of central-east Europe. Hungarian fields has become matured in the last decade. To compensate the production decrease, and to use effectively the accumulated expertise, MOL is getting to spend $432 million for foreign exploration and development in next five years to explore medium- size, low-risk fields. MOL’s first agreement was signed in 1991 with the Tunisian State Oil Company, and the most recent one with Pakistan is dated by 11 February 1999. The MOL has exploration agreements with Yemen, Syria, Egypt, Qatar, Greece and Albania as well.This paper examines the petroleum fiscal conditions of the above listed countries with purposes, how do these regimes reflect the aims of these countries in developing their hydrocarbon resources, as well as how do these regimes fit MOL’s strategy?



Полный текст:

PDF

Литература


>1. "MOL’s Quick Annual Report on 1997" Supplement of the Magyar Hirlap March 7, 1998. (in Hungarian).

2. Anonymous: "Playing to the strengths of privatisation" 64 (9) Petroleum Economist 28 (1997).

3. Anonymus: "Jemenben kutat olajat a MOL" (MOL explores oil in Yemen – in Hungarian) Nepszabadsag February 7, 1998.

4. "World Energy Yearbook 1997" Paris, IEA, 1997.

5. Van Meurs, P. (ed.): "World fiscal systems for oil" New York, Barrows, 1997.

6. Petroconsultants: "World Petroleum Laws 1997" London, Petroconsultants, 1997.

7. Buckman, D.: "Outlook brightens for Tunisian energy" 49 (5) Petroleum Review 200 (1995).

8. Abi-Aad, N.: "Steady growth in Syrian exploration and production" 45 (2) Petroleum Review 74 (1991)

9. US Energy Information Administration: "Oil and natural gas profile – August 1996 Syria" [February 18, 1998]

10. Sharp P.D.: "Upstream oil and gas developments" in "World Energy Year Book 1997" p. 121.

11. Gurney, J.: "The Yemen oil rush: Exploration heats up" 45 (1) Petroleum Review 28 (1991)

12. Carlson, S.N.: "Oil and gas investments in Albania: Basic legal considerations" 15 (2) Oil and Gas Law and Taxation Review 50 (1997)

13. Van Der Lee, K:. "Albania – New law to encourage foreign investment" 12 (11) Oil and Gas Law and Taxation Review D-127 (1994)

14. "Legal basis for establishing commercial companies in Albania" [February 18, 1998]

15. Pegg, G.: "Greece – Completing its first licensing round" 64 (12) Petroleum Economist 20 (1997)

16. Economou, G.: "Greece – Minister ratifies DEP-EKY agreements" 15 (9) Oil and Gas Law and Taxation Review D-98 (1997)

17. US Energy Information Administration: "Oil and natural gas profile – Greece September 1997" [February 16, 1998].

18. Hope, K.: "Greece: Dispute hinders pace of exploration" Financial Times September 10, 1997, p. 3.

19. Masseron, J.: "Petroleum economics (4th ed.)" Paris, Editions Technip, 1990.

20. Stickley, D.C. "Negotiating and documenting petroleum industry agreements" CEPMLP Dundee, 1998.

21. Blitzer, C.R. & Cavoulacos, P.E. & Lessard, D.R. & Paddock, J.L.: "Oil exploration in the developing countries: Poor geology or poor contracts" 9 (4) Natural Resources Forum (1985)


Ссылки

  • На текущий момент ссылки отсутствуют.