Country Report
Ecuador upstream fiscal summary
This report is currently unavailable
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Ecuador holds competitive licensing rounds and offers blocks under service contracts and, more recently, under PSC terms. All existing contracts with private participation operate under service contracts. Service contracts include a negotiable contractor's fee. In addition, technology, labour and corporate income taxes apply on the contractor's service fee. In September 2018, Ecuador launched its first licensing round under new PSC terms. The new PSC does not have royalty or cost oil. The profit sharing mechanism is driven by production and a price-based biddable component. A sovereignty adjustment ensures government share is at least 50%.
Table of contents
- Production sharing contract (Contrato de participación)
- Basis
- Licence terms
- Government equity participation
-
Fiscal terms
- Bonuses, rentals and fees
- Royalty
- PSC production sharing
- Ring fencing
- PSC cost recovery
- PSC profit sharing
- Environmental tax (ECORAE)
- Substitutive tax (Ley 40)
- 5 more item(s)...
- Service contract
- Basis
- Licence terms
- Government equity participation
-
Fiscal terms
- Bonuses, rentals and fees
- Royalty (Levies)
- Service fee
- Contributions
- Technology tax
- Labour participation tax
- Corporate income tax
- Fiscal treatment of decommissioning costs
- 2 more item(s)...
- Recent history of fiscal changes
- Stability provisions
- 4 more item(s)...
Tables and charts
This report includes the following images and tables:
-
TimelineTimeline detailIndirect taxes
-
Production component of the government profit share rateProduction component of the government profit share ratePrice component of the government profit share ratePrice component of the government profit share rateEcuador PSC (oil)Ecuador PSC (gas)Indirect taxesAssumed base service feesAssumed base service fees
- 30 more item(s)...
What's included
This report contains:
Other reports you may be interested in
Asset Report
Grove
The Grove field is located near the Netherlands border of the Southern Gas Basin, about 10 kilometres Southwest of Markham.The field ...
$3,720
Insight
Canada upstream in brief
Our view on the key events as they unfold, covering oil sands, unconventional plays, western Canada, Arctic, and offshore East Coast.
$700
Asset Report
PM323
Newfield Exploration and Petronas Carigali were awarded the production sharing contract for Block PM323 on 15 June 2005.
$3,720
