Country Report
Brunei Darussalam upstream fiscal summary
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Recent upstream licences are awarded under Production Sharing Contract (PSC)-based fiscal regime, while all production licences are currently governed by older concession terms. Royalty, cost recovery ceilings and profit oil splits vary by area and hydrocarbon type, with the latter based on a sliding scale rates linked to production. Profit oil splits are biddable/negotiable, while cost recovery ceilings and royalties are set for each licensing round. Corporate income tax, supplementary payment and research contributions are payable. State companies have the right to take a working interest of up to 15% in any commercial development. Past exploration costs incurred by an IOC are reimbursed by the state from its share of production if it does exercise its right.
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
- 7 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:
- Split of Barrel - oil
- Split of barrel - gas
- Share of profit - oil
- Share of profit - gas
- Effective royalty rate and minimum state share - onshore, oil
- Effective royalty rate and minimum state share - onshore, gas
- Effective royalty rate and minimum state share- shelf, oil
- Effective royalty rate and minimum state share- shelf, gas
- Effective royalty rate and minimum state share- deepwater, oil
- Effective royalty rate and minimum state share- deepwater, gas
- Maximum government share and maximum state share - onshore, oil
- Maximum government share and maximum state share - onshore, gas
- 16 more item(s)...
What's included
This report contains:
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