Country report
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13 Pages

Australia upstream fiscal summary


Australia upstream fiscal summary

Report summary

Concession-based fiscal regime, with a distinction between Federal and State licensing, where Commonwealth waters (greater than 3 miles offshore) come under Federal jurisdiction, and onshore/inshore waters come under State control.  This results in certain differences in licence and fiscal terms between Federal and State areas, and between States. Royalty rates for onshore production vary by State, but royalty does not apply to offshore fields, which are liable to Petroleum Resource Rent...

What's included?

This report includes 1 file(s)

  • Australia upstream fiscal summary PDF - 359.11 KB 13 Pages, 9 Tables, 11 Figures

Description

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
      • Offshore (Federal) Licences
      • Onshore/Inland Waters (State) Licences
    • Government equity participation
    • Fiscal terms
      • Ring Fencing
      • Bonuses, Rentals and Fees
      • Indirect Taxes
      • Royalty
      • Corporate Income Tax
      • Additional Profits Tax
        • Petroleum Resource Rent Tax
        • Gas Transfer Pricing Mechanism
        • Excise Duty
      • Summary of modelled terms
  • Fiscal stability
    • Recent history of fiscal changes
    • Stability Provisions
  • Economic analysis
    • Split of the barrel and share of profit
    • Effective royalty rate and maximum government share
    • Fiscal deterrence

In this report there are 20 tables or charts, including:

  • Executive summary
    • Revenue flowchart: Australia Concession
  • Current licence, equity and fiscal terms
    • Current licence, equity and fiscal terms: Table 1
    • Bonuses, Rentals and Fees
    • Indirect Taxes
    • Australia (onshore): Effective Excise Duty Rate
    • Assumed terms by location
  • Fiscal stability
    • Timeline
    • Timeline details
  • Economic analysis
    • Split of the barrel - oil
    • Split of the barrel - gas
    • Share of profit - oil
    • Share of profit - gas
    • Effective royalty rate and minimum state share
    • Economic analysis: Table 2
    • Economic analysis: Table 3
    • Economic analysis: Table 4
    • 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
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