UNIWE's Project Engaged by Strategic Research Center of Oil and Gas Resources of Ministry of Natural Resources of China successfully Completed

On November 15, 2018, the project carried on by UINWE which is designed to study fiscal term’s system of oil and gas upstream in North America successfully completed and passed the final appraisal with an excellent score. The final appraisal committee was composed of experts mainly from Ministry of Natural Resources of China, CNPC, Sinopec and CNOOC. And this special project was engaged by Strategic Research Center of Oil and Gas Resources(“SRCOG”) of Ministry of Natural Resources of China which is a directly affiliated government institution of Ministry of Natural Resources and the primary execution body of structural reform in upstream of China’s Oil&Gas industry as well as public offering programs of China’s Oil&Gas blocks.

Benchmarking to the general requirements and major measures proposed in the latest  official document on China’s Reform Plan for The Mineral Resources fiscal term， this study started with clarifying the contents about the fiscal terms of Oil&Gas mineral rights in the United States, Canada and Mexico, and summarized the contents about the fiscal term of Oil&Gas mineral rights, the collection standards for government taking, management methods and realization after a systematic analysis of taxation management system of the whole process from exploration to development and production in these three countries. In addition, this study also proposed several practical recommendations to improve the relative fiscal term management system in China’s domestic Oil&Gas industry.

This special research project is just one of a series of study projects completed by UNIWE and engaged by SRCOG on the strategies and policies in North American for managing the Oil&Gas tender programs by governments. Previously, UNIWE had undertaken two research projects engaged by SRCOG to carry on the Study of North American Government Oil and Gas Public Tender Evaluation Criteria and Study of Public Tender Planning of Oil and Gas Resource in North America. And UNIWE had also provided strong supports to the relative institutions for analyzing and referring experiences to progress the structural reform work in China. Parts of these project results have been published by SRCOG, providing a good reference for practitioners and researchers in related areas. In the past five years, UNIWE has conducted more than 30 Oil&Gas projects for reserves and value evaluation together with technical and operational supports for upstream in the United States and Canada engaged by domestic and international companies. Besides that, UNIWE also supported several companies evaluating the China domestic government’s Oil&Gas public offer blocks. All these experiences provide solid foundation for these deep studies of North America oil and gas sector. It’s great appreciated for the help and supports from SRCOG, Canadian Embassy, Mexican Ministry of Economy, and all the domestic and foreign experts, institutions who have provided precious advice during these studies.