Country Report

France upstream fiscal summary

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04 July 2018

France upstream fiscal summary

Report summary

Simple concession fiscal regime, with royalty, corporate income tax and local taxes. Royalty rates and local taxes vary with production rates and the vintage of the field development. Offshore fields are exempt from royalty and local taxes. Royalties and corporate income tax are ring fenced at the licence and company level respectively. There are no formal licensing rounds and contractors make individual applications for licensing blocks. There is no government equity participation.

Table of contents

  • Basis
  • Licence terms
  • Government equity participation
    • Ring fencing
    • Bonuses, rentals and fees
    • Indirect taxes
    • Royalty
    • Additional petroleum taxes
    • 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
  • Progressivity
  • Fiscal deterrence

Tables and charts

This report includes 20 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
  • Bonuses, rentals and fees
  • Indirect taxes
  • Royalty rates
  • Assumed terms by location - oil and gas

What's included

This report contains:

  • Document

    France upstream fiscal summary

    PDF 893.16 KB

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