Country Report

Ghana upstream fiscal summary



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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 contains

  • Document

    Ghana upstream fiscal summary

    PDF 318.62 KB

Table of contents

Tables and charts

This report includes 25 images and tables including:


  • Timeline details
  • 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
  • Bonuses, rentals and fees
  • Indirect taxes
  • Royalty taxes - Oil
  • Royalty taxes - Gas
  • Assumed terms by location - oil
  • Assumed terms by location - Gas
  • Additional oil entitlement


  • Revenue flowchart: Ghana Concession
  • Timeline
  • 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
  • Additional oil entitlement

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