Country Report

Chile upstream fiscal summary

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04 July 2018

Chile upstream fiscal summary

Report summary

Concession-based fiscal regime.  In the 2007 licensing round three of the blocks offered included ENAP, the state oil company, as a 50% non-operating partner.  It is likely that this bidding model will be used again in the future.  Royalty is a biddable factor and will vary with levels of project profitability and revenues generated.  Corporate income tax is fixed and payable.   The barrel = lifetime revenue / field reserves. Profit = revenue – costs from barrel charts.  For further...

Table of contents

  • Executive summary
    • Basis
    • Licence terms
    • 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 19 images and tables including:

  • Revenue flowchart: Chile Concession
  • Executive summary: Table 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
  • Maximum government share
  • 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
  • Indirect taxes
  • Royalty rates
  • Royalty rates across R-Factors based upon different bids
  • Fiscal terms: Table 3
  • Assumed terms by location - oil and gas

What's included

This report contains:

  • Document

    Chile upstream fiscal summary

    PDF 261.81 KB