Country report
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12 Pages

Ecuador upstream fiscal summary


Ecuador upstream fiscal summary

Report summary

A number of different fiscal regimes have been applied to Ecuador over the years.  Currently, all contracts involving private participation in Ecuador are governed under the terms of a Service Contract system.  This system was introduced at start-2011 following several years of negotiation between the government and the private sector companies. The barrel = lifetime revenue / field reserves. Profit = revenue – costs from barrel charts.  For further details see New Investment:...

What's included?

This report includes 1 file(s)

  • Ecuador upstream fiscal summary PDF - 415.05 KB 12 Pages, 9 Tables, 11 Figures

Description

Volatility in oil markets has led players in the upstream oil and gas industry to focus on reducing capital spend and operating costs. At the same time, governments need to review fiscal terms to maintain attractiveness and investment.

This country report gives an overview of the key fiscal issues for this country. If you’re interested in identifying and assessing upstream investment and expansion opportunities, this upstream fiscal summary report is your definitive commercial guide.

Potential investors, governments and companies in the oil and gas sector can use it to gain a better understanding of the critical issues for development opportunities in this country.

Wood Mackenzie's 500 dedicated analysts are located in the markets they cover. They produce forward-looking analysis at both country and asset level across the globe, backed by our robust proprietary database of trusted research. Proprietary data means a superior level of analysis that is simply not available anywhere else. Wood Mackenzie is the recognised gold standard in commercial data and analysis.

  • Executive summary
  • Current licence, equity and fiscal terms
    • Basis
    • Licence terms
    • Government equity participation
    • Fiscal terms
      • Ring fencing
      • Bonuses, rentals and fees
      • Indirect taxes
      • Royalty
      • Service fee and levies
      • Additional petroleum taxes
        • Technology tax
        • Labour tax
        • Communities tax
      • Corporate income tax
      • Product pricing
      • Summary of modelled terms
  • Fiscal stability
    • Recent history of fiscal changes
    • Stability provisions
  • Economic analysis
    • Split of the barrel and share of profit
    • Effective royalty rate and maximum government share
      • Effective royalty rate - offshore, oil and gas
    • Progressivity
    • Fiscal deterrence

In this report there are 20 tables or charts, including:

  • Executive summary
    • Revenue flowchart: Ecuador Service Contract
  • Current licence, equity and fiscal terms
    • Bonuses, rentals and fees
    • Indirect taxes
    • Contractor fee
    • Contractor fee
    • Assumed terms by location
  • Fiscal stability
    • Timeline
    • Timeline detail
  • Economic analysis
    • Split of the barrel - oil
    • Split of the barrel - gas
    • Share of profit - oil
    • Share of profit - gas
    • Effective royalty rate - onshore, oil and gas
    • Economic analysis: Table 2
    • Maximum government share - onshore, oil and gas
    • Maximum government share - offshore, oil and 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
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