Chile upstream fiscal summary Report

Country Report 14 June 2023

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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...

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