Country report

Cuba upstream fiscal summary

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Report summary

The current upstream fiscal system in Cuba is officially termed a Production Sharing Agreement (PSA). To date contracts have been awarded as a result of direct negotiation between foreign companies and the state oil company Unión Cubapetróleo or CUPET. Under the regime profit sharing and corporate income tax are the main fiscal elements. The barrel = lifetime revenue / field reserves. Profit = revenue costs from barrel charts. For further details see New Investment:...

What's included

This report contains

  • Document

    Cuba upstream fiscal summary

    PDF 375.15 KB

Table of contents

  • Executive summary
  • Current licence, equity and fiscal terms
  • Fiscal stability
  • Economic analysis

Tables and charts

This report includes 16 images and tables including:

Images

  • Revenue flowchart - Cuba PSC
  • Timeline
  • Split of the barrel - oil
  • Economic analysis: Image 2
  • State share versus pre-share IRR - oil
  • Investor IRR versus pre-share IRR - oil
  • Cost recovery
  • Current licence, equity and fiscal terms: Image 2

Tables

  • Timeline detail
  • Effective royalty rate - onshore, shelf and deepwater, oil
  • Maximum government share - onshore, shelf and deepwater, oil
  • Bonuses, rentals and fees
  • Indirect taxes
  • Cost recovery
  • Profit sharing
  • Assumed terms by location - oil

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