Country Report
Colombia 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
The current Concession Contract model was introduced in 2004 and replaced the 30 year old Ecopetrol Association Contract model. The new contracts are based on a royalty system with fundamental differences from the previous Association Contract in use in Colombia. Deregulation of gas prices was scheduled for 2005. It now looks unlikely to happen in the near-term as de-regulation is dependent on sufficient supply competition, which has not yet been achieved. Until deregulation,...
Table of contents
- Basis
- Ring fencing
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Fiscal Terms
- Licence terms
- Government equity participation
- Royalty
- High Price Fees
- Trigger Price Thresholds (US$/bbl, 2022 Terms)
- Temporary tax (2025)
- Corporate income tax
- Product pricing
- 1 more item(s)...
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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:
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Timeline detailSplit of the barrel - oil
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Split of the barrel - gasShare of profit - oilShare of profit - gasEffective royalty rate - onshore, shelf and deepwater, oilEffective royalty rate - onshore, shelf and deepwater, gasMaximum government share - onshore and shelf, oilMaximum government share - deepwater, oilMaximum government share - onshore, gasMaximum government share - deepwater, gas
- 12 more item(s)...
What's included
This report contains:
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