Angola upstream fiscal summary Report

Country Report 19 June 2023

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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 most onshore production and the shallow water Cabinda concession. Within the PSC regime signature bonuses are biddable. Profit oil is divided between the investor and the government on a sliding-scale basis, which is linked to investor rate-of-return in offshore PSCs.

Basis
Licence terms
Government equity participation
Fiscal terms
- Bonuses, rentals and fees
- Indirect taxes
- Royalty
- PSC production sharing
- Ring fencing
- PSC cost recovery
- Base
- Rate
- 16 more item(s)...
Recent history of fiscal changes
- Timeline detail
Stability provisions
- Split of the barrel and share of profit
Effective royalty rate and maximum government share
Progressivity
- State share versus pre-share IRR - gas
Fiscal deterrence
Investor IRR versus pre-share IRR - oil
- Investor IRR versus pre-share IRR - gas