Country Report

Greenland upstream fiscal summary

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04 July 2018

Greenland upstream fiscal summary

Report summary

Greenland uses a concession-based fiscal regime in its upstream sector. The main elements include a royalty, surplus royalty and corporate income tax. The royalty varies with pre-take project profitability. A number of bonuses, rentals and fees are also payable. Permits are usually awarded through licensing rounds. The state oil company Nunaoil will hold a small interest in all licences awarded from 2014.

Table of contents

  • Basis
  • Licence terms
  • Government equity participation
    • 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 17 images and tables including:

  • 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 948.19 KB

  • Document

    Greenland upstream fiscal summary

    ZIP 883.44 KB

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