Country Report
Ghana upstream fiscal summary
Report summary
All licences in Ghana are governed by concession terms. The main elements are royalty, income tax and an additional profits tax (called Additional Oil Entitlement, or AOE) based on the contractor's rate of return. In the 2018 bid round, the main biddable fiscal terms were royalties, signature and production bonuses, and the NOC's initial and additional participating interests. In pre-2018 contracts, the AOE was negotiable. The AOE thresholds and rates are currently non-negotiable, and are defined in the 2018 petroleum regulations.
Table of contents
- Basis
- Licence terms
- Government equity participation
-
Fiscal terms
- Ring fencing
- Bonuses, rentals and fees
- Indirect taxes
- Royalty
- Petroleum income tax
- Additional petroleum taxes
- Additional oil entitlement
- Product pricing
- Summary of modelled terms
- Recent history of fiscal changes
- Stability provisions
- Split of the barrel and share of profit
- Effective royalty rate and maximum government share
- Progressivity
- Fiscal deterrence
Tables and charts
This report includes 26 images and tables including:
- Timeline
- Timeline details
- Split of the barrel - oil
- Split of the barrel - gas
- Share of profit - oil
- Share of profit - gas
- Effective royalty rate - onshore/shelf, oil
- Effective royalty rate - deepwater, oil
- Effective royalty rate - onshore/shelf, gas
- Effective royalty rate - deepwater, gas
- Maximum government share - onshore/shelf, oil
- Maximum government share - deepwater, oil
- Maximum government share - onshore/shelf, gas
- Maximum government share - deepwater, gas
- State share versus Pre-Share IRR - oil
- State share versus Pre-Share IRR - gas
- Investor IRR versus Pre-Share IRR - oil
- Investor IRR versus Pre-Share IRR - gas
- Bonuses, rentals and fees
- Indirect taxes
- Royalty taxes - Oil
- Royalty taxes - Gas
- Additional oil entitlement
- Additional oil entitlement
- Assumed terms by location - oil
- Assumed terms by location - Gas
What's included
This report contains:
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