Fiscal changes trim value expectations in Kurdistan

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Report summary

Since 2007, the Kurdistan Regional Government has acted to secure a higher share of revenue from its future oil and gas production, by imposing additional fiscal demands on companies. In order to limit erosion of project value companies will need a clear strategy when entering contract negotiations.

What's included

This report contains

  • Document

    Fiscal changes trim value expectations in Kurdistan

    PDF 459.40 KB

Table of contents

  • Executive Summary
  • The growth of Kurdistan as a producing region
  • Seeking a ‘fair share’ of revenues
  • Erosion of project value for companies
  • Capacity building payments are here to stay
  • Tricky choices for participants
  • The risk of further value erosion
    • Cash Flow
    • Discount Rate & Date
    • Inflation

Tables and charts

This report includes 4 images and tables including:


  • Capacity building payments* for PSC participants
  • Government share and capacity building payments of total revenues for selected projects
  • Effect of a range of capacity building payments on remaining value, for a typical model field
  • Effect of capacity building payment on remaining project value (by company and field)

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