Country Report
Democratic Republic of Congo upstream fiscal summary
Report summary
The Petroleum Law introduced in 2015 states that all future licences will be production sharing contracts (PSCs), and will be awarded via licensing rounds. No contracts have been signed under the 2015 Petroleum Law and it is still in the bidding phase. The Petroleum Law splits the country up into yet-to-be-defined zones (A, B, C, and D). The actual tax rates are biddable and will be defined via competitive tender in the licensing rounds. The new PSC comprises royalty, super profit oil (SPO), cost recovery, excess cost oil, and profit share. State equity is minimum 20%. Corporate income tax (CIT) will be paid by the government.
Table of contents
- Basis
- Licence terms
- Government equity participation
-
Fiscal terms
- Ring fencing
- Bonuses, rentals, fees
- Indirect taxes
- Royalty
- PSC cost recovery
- Base
- Cost recovery ceiling
- Recoverable costs
- Unrecovered costs
- Excess cost oil
- PSC profit sharing
- Base
- Rate
- Base
- Rate
- Corporate income tax
- Ring fencing
- Base
- Rate
- Fiscal treatment of decommissioning
- 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 34 images and tables including:
- Timeline
- Timeline detail
- Split of the barrel - oil
- Split of the barrel - gas
- Share of profit - oil
- Share of profit - gas
- Effective royalty rate - onshore, oil
- Effective royalty rate - shelf, oil
- Effective royalty rate - deepwater, oil
- Effective royalty rate - onshore, gas
- Effective royalty rate - shelf, gas
- Effective royalty rate - deepwater, gas
- Maximum government share - onshore, oil
- Maximum government share - shelf, oil
- Maximum government share - deepwater, oil
- Maximum government share - onshore, gas
- Maximum government share - shelf, 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, fees
- Indirect taxes
- Royalty rates
- Cost recovery
- Estimated effective profit share - Oil
- Estimated effective profit share - Gas
- Estimated effective profit share - oil
- Estimated effective profit share - gas
- Assumed terms by location - oil
- Assumed terms by location - gas
What's included
This report contains:
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