Country Report

Democratic Republic of Congo upstream fiscal summary

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12 July 2018

Democratic Republic of Congo upstream fiscal summary

Report summary

Concession-based fiscal regime.  The state oil company, Cohydro, may take a 20% equity stake in the event of any commercial discovery.  The contractor is liable for royalty, income tax and an additional profits tax.  There are no bonuses, rentals or fees. Since 2006, a number of contracts have been signed under a Production Sharing Contract (PSC). All terms are negotiable and a standard PSC contract is outlined below. Due to the political situation in the Democratic Republic of Congo it...

Table of contents

  • Executive summary
    • Basis
    • Licence terms
    • Government equity participation
    • Fiscal terms
      • Ring fencing
      • Bonuses, rentals, fees
      • Indirect taxes
      • Royalty
      • PSC cost recovery
        • Cost recovery ceiling
        • Excess cost oil
      • PSC profit sharing
      • Additional petroleum taxes
      • 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 32 images and tables including:

  • Revenue flowchart: DR Congo PSC
  • 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
  • Estimated effective profit share - oil
  • Estimated effective profit share - gas
  • Current licence, equity and fiscal terms: Table 5
  • Assumed terms by location - oil
  • Assumed terms by location - gas
  • Cost recovery

What's included

This report contains:

  • Document

    Democratic Republic of Congo upstream fiscal summary

    PDF 377.91 KB

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