Egypt upstream fiscal summary
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Report summary
Upstream licences in Egypt are awarded through licensing rounds under production sharing contract terms (PSCs). Within the PSC regime, signature bonus, production bonus, cost recovery ceiling, excess cost recovery share and contractor profit share are all biddable parameters. Royalty and income tax are paid by the state from its share of profits.The state does not have any equity participation within the PSC regime, but is able to exert significant control over the field developments through a 50% ownership in the joint venture operating company.
What's included
This report contains
Table of contents
- Executive summary
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Current licence, equity and fiscal terms
- Basis
- Licence terms
- Government equity participation
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Fiscal terms
- Ring Fencing
- Bonuses, rentals and fees
- Indirect Taxes
- Royalty
- PSC Cost Recovery
- PSC Profit Sharing
- Corporate Income Tax
- Fiscal treatment of decommissioning
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Product Pricing
- Summary of modelled terms
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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 27 images and tables including:
Images
- Revenue flowchart: Egypt 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
- Contractor profit share (oil)
- Contractor profit share (gas)
Tables
- Timeline details
- Effective royalty rate - onshore, oil and gas
- Effective royalty rate - shelf, oil and gas
- Effective royalty rate - deepwater, oil and gas
- Maximum government share - onshore, oil and gas
- Maximum government share - shelf, oil and gas
- Maximum government share - deepwater, oil and gas
- Bonuses, rentals and fees
- Indirect Taxes
- Cost Recovery
- Profit Sharing - onshore
- Profit Sharing - shelf
- Profit Sharing - deepwater
- Assumed terms by location - oil
- Assumed terms by location - gas
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