TIDMSNGR
RNS Number : 6276K
S.N.G.N. Romgaz S.A.
23 April 2020
REPORT ON PAYMENTS TO GOVERNMENTS
In compliance with art.64 of Law no. 24/2017 and art. 127 of FSA
Regulation no.5/2018
Report date: April 23 , 2020
Company name : Societatea Nationala de Gaze Naturale ROMGAZ
S.A.
Address: Medias, 4 Constantin I. Motas Square, Sibiu County -
Romania, 551130
Phone/fax no: 004-0374-401020 / 004-0269-846901
Fiscal Code: RO14056826
LEI Code: 2549009R7KJ38D9RW354
Trade Register registration number: J32/392/2001
Subscribed and paid in share capital: 385,422,400 RON
Regulated market where the issued securities are traded:
Bucharest Stock Exchange (BVB), London Stock Exchange (LSE)
Significant event to be reported:
-- Report on Payments to Governments for 2019
This report shows the payments made by S.N.G.N. Romgaz S.A. (the
"Company", "SNGN Romgaz") for 2019 financial year according to
Order No. 2844/19.12.2016 of Ministry of Public Finance ("OMPF
2844/2016").
This order is applicable to public entities and transposes into
national legislation the provisions of Directive 2013/34/EU of the
European Parliament and of the Council on the annual financial
statements, consolidated financial statements and related reports
of certain types of undertakings.
Based on these regulations, SNGN Romgaz SA, a company traded on
Bucharest Stock Exchange (BVB) and London Stock Exchange (LSE) with
main scope of activity: prospecting and exploration, discovery,
development and exploitation of petroleum from fields in the
company's portfolio, is required to prepare the Report on payments
to governments.
This paper is a consolidated report for it summarises the
payments to governments as a result of production operations.
Payments performed by Filiala de Inmagazinare Gaze Naturale
Depogaz Ploiesti (the Underground Storage Subsidiary) have not been
included in this report due to the fact that the natural gas
underground storage activity is not the subject of payments to
governments.
This report can be found on the company website:
www.romgaz.ro
Definitions
Regulatory framework : the Report was prepared in accordance
with Chapter 8 of OMFP 2844/2016.
Reporting entity : the report refers to a single reporting
entity, SNGN Romgaz SA.
Activities: the payments disclosed in this report arise from
SNGN Romgaz SA activities in the field of exploration, prospection,
discovery and production of natural gas and other extractive
materials under licenses granted by the authorities. This report
excludes SNGN Romgaz SA activities in natural gas underground
storage, electric power generation and other auxiliary activities
of the gas extractive industry that are included in the scope of
activity.
Government : means any national, regional or local authority of
a Member State or of a third country. It includes a department,
agency or undertaking controlled by that authority.
Project: means the operational activities that are governed by a
single contract, license, lease, concession or similar legal
agreements and form the basis for payment liabilities /to/towards a
government. None the less, if multiple such agreements are
substantially interconnected, and f orm the basis for a payment
obligation to the government, these shall be considered a
project.
Payment : The types of payments included in this report refer
to:
a) production entitlements;
These refer to the government's share of production in a project
jointly undertaken with a governmental authority. The Company has
no ongoing projects of this kind, thus the report does not include
this type of payments to governments.
b) Taxes and fees
Taxes and fees include the taxes levied on income from gas
production activities (tax on additional income obtained further to
the deregulation of gas prices) and the tax on the company's profit
(tax on profit). The report does not show the taxes levied on
consumption, such as the value added tax, the tax on personal
income, taxes and fees related to properties or environmental taxes
and fees.
c) Royalties
Royalties represent the amounts paid under petroleum agreements
concluded in compliance with applicable laws for the exploitation
of a petroleum field (petroleum royalties) and for exploitation of
mineral resources, respectively (mineral resource royalty).
d) Dividends
Refers to dividends paid to governments, amounts that do not
represent the dividends paid off to a government as common or
ordinary shareholder of the Company as long as the dividends are
paid to the government on the same terms as to other shareholders.
The Company did not pay in 2019 other amounts as dividends to
governments except for the dividends paid to a government as common
shareholder.
e) Signature, discovery and production bonuses
Signature, discovery and production bonuses refer to bonuses
that might be paid by the Company upon signature of a contract,
bonuses owed further to the discovery of a commercial reservoir or
bonuses owed after exceeding a certain production volume.
The effective contractual provisions applicable to the Company,
do not stipulate signature, discovery and production bonuses. The
Company did not make such payments during 2019.
f) Licence fees, rental fees, entry fees, approvals and other
considerations for licences and/or concessions
The report shows the fees paid for authorizations and licenses
in the gas field, the amounts paid for approvals upon conclusion or
amendment of concession agreements, approvals paid at the request
of the petroleum agreement titleholder for conclusion, amendment
and termination of a petroleum agreement, payments made for annual
approvals for the Petroleum Operations Program as well as for
modifying the Petroleum Operations Program, approvals for
performing well operations and fees related to investments and
technology transfer. This includes royalties also, that were paid
to several authorities for the concessions granted.
g) Payments for infrastructure improvements
Payments for infrastructure improvements in this report refer to
improvements of the infrastructure only if these are used for other
purposes than exploration, development and production. Moreover
these payments refer to the improvement of the local infrastructure
and not to the Company's infrastructure. The report includes their
value at the time of payment. Constructions, infrastructure
improvements performed only socially are not included in this
report.
During 2019 the Company did not make payments for infrastructure
improvements.
Joint Ventures
With respect to operations performed within joint ventures where
SNGN Romgaz is operator, the amounts shown in this report are the
amounts paid by the company pro rata with its interest share. In
case the Company is part of a joint venture where it is not the
operator; the amounts are stated based on the data made available
by the operator.
Material
A payment, either a unique payment or a series of related
payments, is not shown in the report if it is below RON 443,400
within a financial year (equivalent of EUR 100,000 exchange rate
published in the Official Journal of the European Union on July 19,
2013).
Payment in kind
The Company does not make payments in kind.
Reporting currency
The report is prepared in RON. Payments made in other currencies
than the national currency are shown in this report in RON at their
payment value.
The payments made for the operations performed in Slovakia in
2019 are below the significant threshold.
In compliance with the reporting obligations previously
mentioned, SNGN Romgaz SA publishes the Report on payments to
governments for financial year 2019, under the model stated at
Section 8.3 of the Order no.2844/2016 issued by the Public Finance
Ministry as follows:
Thousand RON
Amounts paid to Governments per countries
No. Payment type Romania
---------------------------------------- --------------
I Total amount of payments 1,502,066
---------------------------------------- --------------
a. Production rights N/A
---------------------------------------- --------------
Taxes levied on the income,
production or profits of companies,
excluding taxes levied on consumption
such as value added taxes, personal
b. income taxes or sales taxes 1,020,243
---------------------------------------- --------------
c. Royalties 396,447
---------------------------------------- --------------
d. Dividends N/A
---------------------------------------- --------------
e. Signature, discovery and production N/A
bonuses
---------------------------------------- --------------
Licence fees, rental fees, entry
fees and other considerations
f. for licences and/or concessions 85,376
---------------------------------------- --------------
g. Payments for infrastructure N/A
improvements
---------------------------------------- --------------
Chief Executive Officer
Constantin Adrian VOLINTIRU
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
PGRIJMFTMTBTMLM
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