GlobalData’s analysis of fiscal and regulatory developments in Europe suggests that regular licensing rounds continue in the UK and Norway. While Norway continues to maintain stable fiscal terms, the UK government has announced further measures to support the sector, notably the introduction of transferable-tax history to support late-life asset transactions. Denmark has also introduced fiscal incentives for the sector, with hydrocarbon tax act amendments approved in late 2017 to support the re-development of the Tyra field.
Outside the North Sea, the Faroe Islands and Greece both have bid rounds set to close in March. In Romania, the multi-year saga of plans to amend the country’s royalty laws continues to play out, making for an uncertain investment climate and delaying the country’s 11th bid round.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Bid rounds, fiscal regime changes and pending legislation in 2018
Source: GlobalData Upstream Analytics
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
