Some very interesting reading2 Sep 2018 09:07
https://gettingthedealthrough.com/area/24/jurisdiction/139/oil-regulation-morocco/
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14.
Does the government have any right to participate in a licence? If so, is there a maximum participating interest it can obtain and are there any mandatory carry requirements for its interest? What cost-recovery mechanism is in place to recover such carry? Does the government have any right to participate in the operatorship of a licence?
In order to carry out oil exploration and exploitation activities in Morocco, any operator must enter into a petroleum agreement with the ONHYM (representing the Moroccan state) and provide the ONHYM (representing the state) with no more than a 25 per cent interest in the exploration permit and, as the case may be, the exploitation concession.
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16.
What is the customary duration of oil leases, concessions or licences?
With regard to oil upstream activities, survey licences may be granted for a maximum initial period of one year and extended for one or several periods of a maximum duration of one year each, either for part of or for the same area, provided that undertakings concerning the first period have been fulfilled.
Exploration permits may be granted for a maximum eight-year period.
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37.
What is the tax regime applicable to oil exploration, production, transportation, and marketing and distribution activities? What government body wields tax authority?
These activities are taxed under the common Moroccan tax rules, subject to a certain number of tax advantages granted by the Moroccan state to oil and gas operators in order to promote their activities in Morocco.
Listed below are some of the tax incentives provided under the Hydrocarbon Code:
the holder, or as the case may be, the co-holders of any exploitation concession benefit from a total exemption on corporate income tax during a 10-year period starting from the beginning date of regular production of any exploitation concession;
all equipment, products and services necessary for the survey, exploration and exploitation works are exempted from value added tax and customs rights; and
the profits and dividends of the exploitation concessions holders (and those of the shareholders of the concession companies) are exempted from any taxes and may freely be repatriated outside Morocco without limitations for foreign entities.
The holder of an exploration permit or an exploitation concession benefits from an exemption on business licence tax.
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41.
Who holds title to seismic data collected during the term of and on termination of a licence, PSC or service contract? Can the regulator require the data owner to report or release the data?
Pursuant to article 6 of the Hydrocarbon Code, exploration permits and exploitation concessions confer real rights for a limited period. They do not offer any ownership right neither to the land nor to the works, the buildings, the facilities and the equipment related to the operation. At the end
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