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Bahamas upstream fiscal summary

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04 July 2018

Bahamas upstream fiscal summary

Report summary

All licensed acreage in the Bahamas is governed by a concessionary fiscal regime with a straight-forward tax/royalty system.  Following the Macondo disaster in the US Gulf of Mexico, the Government of The Bahamas, in August 2010, imposed a suspension on all drilling and licensing activity.  This is to allow it to evaluate its environmental standards and to ensure that the lessons learned from Macondo are fully incorporated in future operations.  It is not known at this stage what potential...

Table of contents

    • Revenue flowchart: Bahamas Concession
    • Basis
    • Licence terms
    • Relinquishment:
    • Government equity participation
    • Fiscal terms
      • Ring fencing
      • Bonuses, rentals and fees
      • Indirect taxes
    • Royalty
      • 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

Tables and charts

This report includes 20 images and tables including:

  • Executive summary: Image 1
  • Royalty rates
  • Current licence, equity and fiscal terms: Image 1
  • Timeline
  • Timeline detail
  • Split of the barrel - oil
  • Split of the barrel - gas
  • Share of profit - oil
  • Share of profit - gas
  • Effective royalty rate - shelf and deepwater, oil and gas
  • Maximum government share - shelf and deepwater, oil
  • Maximum government share - shelf and deepwater, gas
  • 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
  • Bonuses, rentals and fees
  • Indirect taxes
  • Assumed terms by location - oil
  • Assumed terms by location - gas

What's included

This report contains:

  • Document

    Bahamas upstream fiscal summary

    PDF 262.86 KB

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