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Regulations No. 53 on the state fee for the oil production.

Country/Territory
Latvia
Document type
Regulation
Date
2000 (2003)
Source
FAO, FAOLEX
Subject
Mineral resources
Keyword
Authorization/permit Oil EEZ-Exclusive Economic Zone Exploration Royalties/fees Maritime zone
Geographical area
Europe, Europe and Central Asia, European Union Countries, Northern Europe
Abstract

These Regulations determine the procedure for calculating and paying the state fee for the oil production. The Royalty is a payment for the oil produced in the territory or the exclusive economic zone of Latvia. The Royalty shall be paid by companies (enterprises), which have obtained a permit (licence) for the exploration and production of hydrocarbons and produce oil in the territory or the exclusive economic zone of Latvia. Companies (enterprises) shall calculate and pay the Royalty in Lats (LVL) for the amount of oil extracted from each separate deposit. The amount of the oil produced shall be supervised by the Ministry of Economics.

Full text
English
Website
mapx.map.vgd.gov.lv

References - Legislation

Repealed by

Cabinet Regulation No. 942 of 2009 on State Fee for the Production of Hydrocarbons

Legislation | Latvia | 2009

Keyword: Royalties/fees, Oil, Natural gas, Procedural matters, EEZ-Exclusive Economic Zone, Maritime zone

Source: FAO, FAOLEX