The proposed $10 billion ($1.7 billion) field project had been hit by the earlier tax increase that cut uplift on capital expenditure – the percentage of investment costs oil companies can write off against tax – from 91% to 88% for development plans submitted after 5 May 2013.
However, Norway’s Finance Ministry has now proposed that Zidane, along with Shell’s nearby Linnorm field and a pair of North Sea pipeline projects, should remain subject to the original fiscal regime in a document on a transitional tax arrangement issued for consultation that expired at the end of last week.
If
