How Attractive are the Fiscal Regimes of the Deepwater Offshore West Africa to Foreign Investment?
Article from: OGEL 3 (2004), in Taxation
Introduction
Deepwater exploration began in the 1970s and has since then gained worldwide momentum, particularly in the Gulf of Mexico, Brazil and West Africa; together regarded within the oil industry as the 'golden triangle', because of their favourable deepwater geology. However, what makes deepwater exploration quite different and particularly interesting is the high investment required, in terms of capital and technology, as well as its highly sensitive risk-reward dynamics, thus making it a 'playground' for only a few major oil companies who have the requisite capital base and ...