Country Report

Angola upstream fiscal summary

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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.

Table of contents

  • Basis
  • Licence terms
  • Government equity participation
    • Bonuses, rentals and fees
    • Indirect taxes
    • Royalty
    • PSC production sharing
    • Ring fencing
    • PSC cost recovery
    • Base
    • Rate
    • Recoverable costs
    • Unrecovered costs
    • PSC profit sharing
    • Base
    • Rate
    • Payment schedule
    • Corporate income tax
    • Ring fencing
    • Base
    • Income
    • Deductions
    • Rate
    • Payment schedule
    • Fiscal treatment of decommissioning
    • Product pricing
    • Summary of modelled terms
    • Timeline detail
    • Split of the barrel and share of profit
  • Effective royalty rate and maximum government share
    • State share versus pre-share IRR - gas
  • Fiscal deterrence
    • Investor IRR versus pre-share IRR - gas

Tables and charts

This report includes 27 images and tables including:

  • Timeline
  • Effective royalty rate - onshore, oil and gas
  • Effective royalty rate - shelf, oil and gas
  • Effective royalty rate - deepwater, oil and gas
  • Maximum government share – onshore, oil
  • Maximum government share –shelf/deepwater, oil
  • Maximum government share – onshore, gas
  • Maximum government share –shelf/deepwater, gas
  • State share versus pre-share IRR - oil
  • Cost recovery ceilings
  • Capital uplift
  • Profit sharing
  • Contractor profit share rates - onshore oil
  • Contractor profit share rates - offshore oil & gas
  • Assumed terms by location
  • Split of the barrel - oil
  • Split of the barrel - gas
  • Share of profit - oil
  • Share of profit - gas

What's included

This report contains:

  • Document

    Angola upstream fiscal summary

    PDF 1.07 MB