The tax will apply to the additional revenues resulted from the price deregulation in this field and will be enforced between February 1, 2013 and the end of 2014.
The tax will represent 60% of the additional revenues, from which there are discounted the dues resulted of these revenues as well as the investments in the upstream segment, without exceeding 30% of the additional revenues.
The investments on the upstream segment represent investments in the development and expansion of the existent deposits, exploration and development of new production areas.
The additional revenues will be calculated based on a formula taking into account the price of natural gas from the internal production, which are aimed for further resale to the household and industrial consumers, the natural gas acquisition price from the internal production for the household and industrial consumers in 2012, namely RON495/1,000 cubic meteres, adjusted to the inflation rate, as well as the gas volumes from the international production sold to household and industrial consumers.
Currently, the domestic gas production is almost entirely covered by OMV Petrom (SNP.RO) and Romgaz Medias.
Oil and natural gas producers currently pay dues between 3.5% and 13.5% of their production, according to the type of hydrocarbon deposits. The levels of these dues were settled in 2004 and are valid until December 2014.