Country Report
Benin upstream fiscal summary
Report summary
Simple Production Sharing Contract (PSC)-based fiscal regime, where the State has the option to back in to any commercial development at a 15% equity. Royalty rates are negotiable within a range of 10% to 15% for crude oil and a 2.5% and 5% range for gas. Cost recovery ceilings are negotiable up to a maximum rate, depending on location. Profit-sharing is based on a sliding scale linked to production rate thresholds. Both profit share rates and production thresholds are negotiable.
Table of contents
- 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
- 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 28 images and tables including:
- Timeline
- Timeline detail
- Split of the barrel - oil
- Split of the barrel - gas
- Share of profit - oil
- Share of profit - gas
- Effective royalty rate - onshore/shelf, oil
- Effective royalty rate - deepwater, oil
- Effective royalty rate - onshore/shelf, gas
- Effective royalty rate - deepwater, gas
- Maximum government share - onshore/shelf, oil
- Maximum government share - deepwater, oil
- Maximum government share - onshore/shelf, gas
- Maximum government share - 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
- Royalty Rates
- Cost Recovery Ceilings
- Profit Sharing - Oil
- Profit Sharing - Gas
- Effective contractor share profit - oil
- Effective contractor share profit - gas
- Assumed terms by location - oil
- Assumed terms by location - gas
What's included
This report contains:
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