Country report

Cyprus upstream fiscal summary

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Report summary

Upstream licences in Cyprus are awarded through licensing rounds under production sharing contract terms (PSCs). The model used in this analysis are based on 2016 model exploration and production sharing contract terms. Signature bonus, production bonus, cost recovery ceiling and contractor profit share are all biddable parameters. Profit sharing rates are linked to project profitability. Income tax is paid by the state from its share of profits. The state does not have any equity participation within the PSC regime

What's included

This report contains

  • Document

    Cyprus upstream fiscal summary

    PDF 342.97 KB

Table of contents

Tables and charts

This report includes 16 images and tables including:

Images

  • Revenue flowchart: Cyprus PSC
  • Split of the barrel - oil
  • Split of the barrel - gas
  • Share of profit - oil
  • Share of profit - 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
  • Contractor profit share (oil and gas)

Tables

  • Effective royalty rate and minimum state share
  • Maximum Government Share and maximum state share
  • Indirect taxes
  • Profit Sharing - deepwater
  • Cyprus PSC Terms
  • Bonuses, rentals and fees

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