Country Report
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
- 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 16 images and tables including:
- Timeline
- Split of the barrel - oil
- Split of the barrel - gas
- Share of profit - oil
- Share of profit - gas
- Effective royalty rate
- 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
- Assumed terms by location - oil and gas
What's included
This report contains:
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