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Guinea Bissau/Senegal JEZ upstream fiscal summary

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04 July 2018

Guinea Bissau/Senegal JEZ upstream fiscal summary

Report summary

Simple Production Sharing Contract (PSC)-based fiscal regime, with no royalty. The joint commission established to administer the maritime zone between Senegal and Guinea Bissau, Agence de Gestion et de Coopération entre le Guinée Bissau et le Sénégal (AGC), can take equity in each PSC.  The amount of revenue available for cost recovery is a negotiable item but is typically 70%. Production remaining after cost recovery is divided between the contractor and the government on a sliding scale...

Table of contents

  • Executive summary
    • Basis
    • Licence Terms
    • Government equity participation
    • Fiscal terms
      • Ring fencing
      • Bonuses, rentals and fees
      • Indirect taxes
      • Royalty
      • Other Levies
      • PSC Cost Recovery
      • PSC Profit Sharing
      • Corporate Income Tax
      • Product Pricing
      • Summary of modelled terms
    • Recent history of fiscal changes
      • Timeline
    • 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 16 images and tables including:

  • Revenue flow chart - Guinea Bissau/Senegal JEZ PSC
  • Split of the barrel - oil
  • Split of the 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
  • Profit Sharing
  • Current licence, equity and fiscal terms: Image 1
  • Effective contractor profit share - oil
  • Assumed terms by location - gas

What's included

This report contains:

  • Document

    Guinea Bissau/Senegal JEZ upstream fiscal summary

    PDF 243.48 KB

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