Country report
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12 Pages

Angola upstream fiscal summary

Angola upstream fiscal summary

Report summary

Companies operating in Angola do so under two different fiscal regimes: offshore production is subject to production sharing contracts (PSCs), whereas a concession agreement, with tax and royalty payments, applies to onshore production and the shallow water Cabinda concession.  Within the PSC regime bonuses and profit oil/gas shares are negotiable – negotiated terms vary widely but generally reflect the perceived strong prospectivity of the area.  Profit oil is divided between the investor...

What's included?

This report includes 1 file(s)

  • Angola upstream fiscal summary PDF - 339.86 KB 12 Pages, 13 Tables, 8 Figures


Volatility in oil markets has led players in the upstream oil and gas industry to focus on reducing capital spend and operating costs. At the same time, governments need to review fiscal terms to maintain attractiveness and investment.

This country report gives an overview of the key fiscal issues for this country. If you’re interested in identifying and assessing upstream investment and expansion opportunities, this upstream fiscal summary report is your definitive commercial guide.

Potential investors, governments and companies in the oil and gas sector can use it to gain a better understanding of the critical issues for development opportunities in this country.

Wood Mackenzie's 500 dedicated analysts are located in the markets they cover. They produce forward-looking analysis at both country and asset level across the globe, backed by our robust proprietary database of trusted research. Proprietary data means a superior level of analysis that is simply not available anywhere else. Wood Mackenzie is the recognised gold standard in commercial data and analysis.

  • Executive summary
  • Current licence, equity and fiscal terms
    • Basis
    • Licence Terms
    • Government equity participation
    • Fiscal terms
      • Ring Fencing
      • Bonuses, Rentals and Fees
      • Indirect Taxes
      • Royalty
      • PSC cost recovery
      • PSC profit sharing
      • Corporate income tax
      • Decommissioning
      • Product pricing
      • Summary of modelled terms
  • Fiscal stability
    • Recent history of fiscal changes
    • Stability provisions
  • Economic analysis
    • Split of the barrel and share of profit
      • State share versus pre-share IRR - gas
      • Fiscal deterrence
      • Investor IRR versus pre-share IRR - oil
        • Investor IRR versus pre-share IRR - gas

In this report there are 21 tables or charts, including:

  • Executive summary
    • Revenue flow chart - Angola PSC
  • Current licence, equity and fiscal terms
    • Bonuses, rentals and fees
    • Indirect taxes
    • Cost recovery ceilings
    • Capital uplift
    • Profit sharing
    • Contractor profit share rates - onshore
    • Contractor profit share rates - offshore
    • Assumed terms by location - oil
  • Fiscal stability
    • Timeline
    • Timeline detail
  • Economic analysis
    • Split of the barrel - oil
    • Share of profit - oil
    • Effective royalty rate - onshore, oil
    • Effective royalty rate - shelf, oil
    • Effective royalty rate - deepwater, oil
    • Maximum government share – onshore, oil
    • Maximum government share –shelf, oil
    • Maximum government share – deepwater, oil
    • State share versus pre-share IRR - oil
    • Economic analysis: Image 4
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