Country Report

Greenland upstream fiscal summary

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04 July 2018

Greenland upstream fiscal summary

Report summary

Simple Concession fiscal regime where the State oil company, Nunaoil, holds either a 12.5% interest (Model Licensing Round licenses) or 8% (Open Door licences), carried through the exploration phase.  Royalty is payable and varies with pre-take project profitability, whilst corporate income tax is fixed at 30%.  A number of bonuses, rentals and fees are also payable. The barrel = lifetime revenue / field reserves. Profit = revenue – costs from barrel charts.  For further details see New...

Table of contents

  • Executive summary
    • Basis
    • Licence terms
    • Government equity participation
    • Fiscal terms
      • Ring fencing
      • Bonuses, rentals and fees
      • Indirect taxes
      • Royalty
    • 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 18 images and tables including:

  • Revenue flowchart: Greenland Concession
  • Assumed terms by location
  • Timeline
  • Timeline details
  • Split of Barrel - oil
  • Split of barrel - gas
  • Share of profit - oil
  • Share of profit - gas
  • Effective royalty rate and minimum state share
  • Maximum government share and maximum state share
  • 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
  • Surplus royalty rate

What's included

This report contains:

  • Document

    Shelf Greenland(Concession).xls

    XLS 97.00 KB

  • Document

    Greenland upstream fiscal summary

    PDF 288.32 KB

  • Document

    Greenland upstream fiscal summary

    ZIP 277.69 KB