Country Report
Colombia upstream fiscal summary
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
-
Fiscal Terms
- Licence terms
- Government equity participation
- Royalty
- High Price Fees
- Trigger Price Thresholds (US$/bbl, 2022 Terms)
- 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 24 images and tables including:
- Timeline detail
- Split of the barrel - oil
- Split of the barrel - gas
- Share of profit - oil
- Share of profit - gas
- Effective royalty rate - onshore, shelf and deepwater, oil
- Effective royalty rate - onshore, shelf and deepwater, gas
- Maximum government share - onshore and shelf, oil
- Maximum government share - deepwater, oil
- Maximum government share - onshore, gas
- Maximum government share - deepwater, gas
- 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
- Bonuses, rentals and fees
- Indirect taxes
- Royalty rates
- Royalty rates
- Assumed terms by location
What's included
This report contains:
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