Country Report

Benin upstream fiscal summary

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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
    • Ring fencing
    • Bonuses, rentals and fees
    • Indirect taxes
    • Royalty
    • PSC cost recovery
    • PSC profit sharing
    • Corporate income tax
    • Product pricing
    • 1 more item(s)...
  • 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 the following images and tables:

  • 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
  • 16 more item(s)...

What's included

This report contains:

  • Document

    Benin upstream fiscal summary

    PDF 974.82 KB