Country report
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14 Pages

Ghana upstream fiscal summary


Ghana upstream fiscal summary

Report summary

All licences in Ghana are governed by concession terms.  The main elements are royalty, income tax and an additional profits tax (called Additional Oil Entitlement, or AOE) which is based on rates of return.  Specific terms exists for deepwater developments, with lower royalty and AOE rates. Following the significant Jubilee discovery, the Ghanaian government has made slight fiscal changes to recent petroleum agreements with investors. With the increased interest shown by operators in...

What's included?

This report includes 1 file(s)

  • Ghana upstream fiscal summary PDF - 398.53 KB 14 Pages, 18 Tables, 7 Figures

Description

Volatility in oil markets has led players in the upstream oil and gas industry to focus on reducing capital spend and operating costs. At the same time, governments need to review fiscal terms to maintain attractiveness and investment.

This country report gives an overview of the key fiscal issues for this country. If you’re interested in identifying and assessing upstream investment and expansion opportunities, this upstream fiscal summary report is your definitive commercial guide.

Potential investors, governments and companies in the oil and gas sector can use it to gain a better understanding of the critical issues for development opportunities in this country.

Wood Mackenzie's 500 dedicated analysts are located in the markets they cover. They produce forward-looking analysis at both country and asset level across the globe, backed by our robust proprietary database of trusted research. Proprietary data means a superior level of analysis that is simply not available anywhere else. Wood Mackenzie is the recognised gold standard in commercial data and analysis.

  • Executive summary
  • Current licence, equity and fiscal terms
    • Basis
    • Licence terms
    • Government equity participation
    • Fiscal terms
      • Ring fencing
      • Bonuses, rentals and fees
      • Indirect taxes
      • Royalty
      • Corporate income tax
      • Additional petroleum taxes
        • Additional oil entitlement
      • Product pricing
      • Summary of modelled terms
  • Fiscal stability
    • Recent history of fiscal changes
    • Stability provisions
  • Economic analysis
    • Split of the barrel and share of profit
    • Effective royalty rate and maximum government share
    • Progressivity
    • Fiscal deterrence

In this report there are 25 tables or charts, including:

  • Executive summary
    • Revenue flowchart: Ghana Concession
  • Current licence, equity and fiscal terms
    • Bonuses, rentals and fees
    • Indirect taxes
    • Royalty taxes - Oil
    • Royalty taxes - Gas
    • Additional oil entitlement
    • Additional oil entitlement
    • Assumed terms by location - oil
    • Assumed terms by location - Gas
  • Fiscal stability
    • Timeline
    • Timeline details
  • Economic analysis
    • Economic analysis: Table 1
    • Economic analysis: Table 2
    • Effective royalty rate - onshore/shelf, oil
    • Effective royalty rate - deepwater, oil
    • Effective royalty rate - onshore/shelf, gas
    • Effective royalty rate - deepwater, gas
    • Maximum government share - onshore/shelf, oil
    • Maximum government share - deepwater, oil
    • Maximum government share - onshore/shelf, gas
    • Maximum government share - deepwater, 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
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