Country Report

Ecuador upstream fiscal summary

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29 June 2018

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:...

Table of contents

  • Executive summary
    • 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
    • Recent history of fiscal changes
    • Stability provisions
    • 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

Tables and charts

This report includes 20 images and tables including:

  • Revenue flowchart: Ecuador Service Contract
  • 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 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
  • Bonuses, rentals and fees
  • Indirect taxes
  • Contractor fee
  • Contractor fee
  • Assumed terms by location
  • Economic analysis: Table 2
  • Maximum government share - onshore, oil and gas
  • Maximum government share - offshore, oil and gas

What's included

This report contains:

  • Document

    Ecuador upstream fiscal summary

    PDF 334.98 KB