Country report
Democratic Republic of Congo upstream fiscal summary
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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 isoutlined below. Due to the political situation in the Democratic Republic of Congo it...
What's included
This report contains
Table of contents
- Executive summary
-
Current licence, equity and fiscal terms
- 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
- Corporate income tax
- Product pricing
- Summary of modelled terms
-
Fiscal stability
- Recent history of fiscal changes
- Stability provisions
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Economic analysis
- 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:
Images
- Revenue flowchart: DR Congo PSC
- Timeline
- 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
- Estimated effective profit share - oil
- Estimated effective profit share - gas
Tables
- Timeline detail
- 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
- Bonuses, rentals, fees
- Indirect taxes
- Royalty rates
- Current licence, equity and fiscal terms: Table 5
- Assumed terms by location - oil
- Assumed terms by location - gas
- Cost recovery
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