Country Report

India upstream fiscal summary

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21 November 2019

India upstream fiscal summary

Report summary

All new upstream licences are awarded through the licensing rounds under Revenue Sharing Model (RSM) terms. Within the RSM regime there is no cost recovery. Revenue after royalty is shared between the government and contractor. Revenue sharing is based on high and low revenue points which are set by the government, with the respective revenue shares biddable by the contractor. Royalty is fixed but varies between 5% and 12.5% depending on a fields location. Corporate income tax is payable at the effective rate of 25.63% for domestic companies and at 43.68% for foreign companies. In February 2019, the government introduced policy reforms to incentivise exploration, which included royalty discounts to encourage faster project execution, elimination of government revenue share for emerging and frontier basins and introduction of windfall gain revenue sharing, capped government revenue share and gas marketing and pricing freedom for all new gas discoveries.

Table of contents

Tables and charts

This report includes 26 images and tables including:

  • Indirect taxes
  • Assumed terms by location - oil and gas
  • Timeline
  • Timeline details
  • 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 - onshore, oil
  • Effective royalty rate and minimum state share - onshore, gas
  • Effective royalty rate and minimum state share- shelf, oil and gas
  • Effective royalty rate and minimum state share - deepwater, oil and gas
  • Maximum government share and maximum state share - onshore, oil
  • Maximum government share and maximum state share - onshore, gas
  • Maximum government share and maximum state share - shelf, oil and gas
  • Maximum government share and maximum state share - deepwater, oil and gas
  • 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
  • Royalty rates - by basin category and location
  • Contractor revenue share
  • Contractor revenue share
  • Windfall revenue share
  • Windfall revenue share
  • Effective corporate tax rate

What's included

This report contains:

  • Document

    India upstream fiscal summary

    PDF 936.90 KB

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