Country Report

France upstream fiscal summary

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In 2017, the government introduced a moratorium banning the issue of new exploration licences. The existing concession regime includes a royalty, corporate income tax, solidarity contribution and local levies. Royalty rates and local levies vary with production and the vintage of a fields development. Offshore fields are exempt from royalty and local levies. Royalties and corporate income tax are ring fenced at the licence and company level respectively.

Table of contents

  • Basis
    • Duration
    • Relinquishment
  • Government equity participation
    • Ring fencing
    • Bonuses, rentals and fees
    • Indirect taxes
    • Royalty
    • Payment schedule
    • Local levies
    • Ring fencing
    • Base
    • Rate
    • Payment schedule
    • Corporate income tax
    • Ring fencing
    • Base
    • Income
    • Deductions
    • Rate
    • Payment schedule
    • Solidarity contribution
    • Ring fencing
    • Base
    • Rate
    • Payment schedule
    • Product pricing
    • Fiscal treatment of decommissioning
  • Recent history of fiscal changes
  • Stability provisions
  • Split of the barrel and share of profit
  • Effective royalty rate and maximum government share
  • Progressivity
  • Fiscal deterrence

Tables and charts

This report includes 19 images and tables including:

  • Timeline
  • Timeline details
  • Split of the barrel - oil
  • Split of the barrel - gas
  • Share of profit - oil
  • Share of profit - gas
  • Effective royalty rate - Oil
  • Effective royalty rate - onshore, Gas
  • Effective royalty rate - oil and gas
  • Maximum government share - Onshore, Oil
  • Maximum government share - Onshore, Gas
  • Maximum government share - 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
  • Indirect taxes
  • Royalty rates
  • Assumed terms by location - oil and gas

What's included

This report contains:

  • Document

    France upstream fiscal summary

    PDF 1.07 MB