Country report

Afghanistan upstream fiscal summary

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Report summary

Afghanistan has a relatively transparent and standard form of Production Sharing Contract (PSC) fiscal regime. The actual contracts are known as Exploration and Production Sharing Contracts (ESPCs) and include Royalty, Profit Sharing and Corporate Income Tax. Profit oil splits vary with project profitability (the R-Factor), there is no Cost Recovery Ceiling and Royalty is a biddable item. The barrel = lifetime revenue / field reserves. Profit = revenue – costs from barrel charts....

What's included

This report contains

  • Document

    Afghanistan upstream fiscal summary

    PDF 344.64 KB

Table of contents

  • Executive summary
    • Basis
    • Licence terms
    • Government equity participation
      • Ring fencing
      • Bonuses, rentals and fees
      • Indirect taxes
      • Royalty
      • PSC cost recovery
      • PSC profit sharing
      • Export Duty
      • Corporate income tax
      • 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
    • Investor IRR versus pre-share IRR - oil

Tables and charts

This report includes 20 images and tables including:

Images

  • Revenue flowchart: Afghanistan PSC
  • Timeline
  • Split of the barrel - oil
  • Economic analysis: Image 2
  • Share of profit - oil
  • Share of profit - gas
  • State share versus pre-share IRR - oil
  • State share versus pre-share IRR - gas
  • Economic analysis: Image 7
  • Investor IRR versus pre-share IRR - gas
  • Profit sharing

Tables

  • Timeline details
  • Effective royalty rate - onshore , oil and gas
  • Maximum government share – onshore, oil
  • Maximum government share – onshore, gas
  • Bonuses, rentals and fees
  • Indirect taxes
  • Profit sharing
  • Assumed terms by location - oil
  • Assumed terms by location - gas

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