Перевод с английского на русский.

According to energy economist Dr
Carole Nakhle, the basic proposition
of an oil and gas taxation
regime is to ‘acquire for the state in
whose territory the resources lie, a fair
share of the wealth accruing from their
extraction, whilst encouraging investors
to ensure optimal economic recovery of
those resources’. Whilst this sounds relatively
straightforward, the difficulty lies
in striking a balance between gove
ment
and industry objectives. In other
words, if the state becomes too greedy
it risks discouraging investment and
damaging the long-term potential of
the reserve base.
So, how do the UK and Norwegian
systems stack up? In the UK, E&P
companies are subject to ring-fenced
corporation tax plus a supplementary
charge on profits – the former is applied
at a rate of 30% and the latter 32%. In
Norway, corporation tax is applied at a
rate of 28%, whilst an additional special
tax increases gove
ment take to 78%.
Although these taxes are applicable
to themajority of field developments on
the UK continental shelf (UKCS) and
Norwegian continental shelf (NCS),
distortions to these rules exist in order
to incentivise exploration activity. This is
currently achieved in one of two ways –
either directly by providing relief on
exploration wells or indirectly through
development incentives that increase
the value of future discoveries. The UK
opts for the latter, with a field
allowance promoting development
activity on small, high-pressure, hightemperature
and deepwater fields;
whilst Norway opts for the former, with
a unique tax refund system that protects
operators from 78% of the cost of a dry
exploration well.
Fiscal stability
Aside from headline tax rates and incentives,
another key difference between
the UK and Norway is the relative
stability of the latter’s fiscal regime.
Indeed, the UK gove
ment has spent
many years tinkering with the system,
introducing increasingly onerous rates
and various incentives. This...

Британские и норвежские нефтегазовые отрасли связаны многими характеристиками, включая возраст, месторасположение и их возрастающую зрелость. Однако, несмотря на эти схожие черты, тенденции деятельности в последнее время и будущий потенциал значительно варьируются, так как налоговые или регламентирующие различия продолжают формировать промышленность этих двух стран. Люк Дэвис, аналитик в Инфилд Системз, рассматривает тенденции разведки и добычи в Северном море и рассуждает, каким образом налоговые режимы играют ключевую роль в формировании промышленности.