Country Report
Ecuador upstream fiscal summary
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*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:
- Timeline
- Timeline detail
- Indirect taxes
- Production component of the government profit share rate
- Production component of the government profit share rate
- Price component of the government profit share rate
- Price component of the government profit share rate
- Ecuador PSC (oil)
- Ecuador PSC (gas)
- Indirect taxes
- Assumed base service fees
- Assumed base service fees
- 30 more item(s)...
What's included
This report contains:
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