Country Report
Guinea upstream fiscal summary
Report summary
Relatively simple Production Sharing Contract (PSC) fiscal regime, with no bonuses, a flat royalty rate but negotiable cost recovery ceiling and profit oil splits (based on production rates). The government typically takes a 10% stake in the projects and pays its share of costs after it backs-in. On 1 January 2015, new standard PSC terms and an updated Petroleum Code were introduced for all new contract awards. Pre-existing contracts based on the 1987 model production sharing agreement and in accordance with Guinea's 1986 Petroleum Code, will be maintained until expiry before switching to the new terms.
Table of contents
- Basis
- Licence terms
- Government equity participation
-
Fiscal terms
- Ring fencing
- Bonuses, rentals and fees
- Indirect taxes
- Royalty
- PSC Cost Recovery
- PSC Profit Sharing
- 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 19 images and tables including:
- Timeline
- Timeline details
- Split of the barrel - oil
- Split of the barrel - gas
- Share of profit - oil
- Share of profit - gas
- Effective royalty rate - oil
- Effective royalty rate - gas
- 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
- Profit Sharing
- Effective contractor profit share - oil
- Effective contractor profit share - gas
- Assumed terms by location - oil
What's included
This report contains:
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