Country Report
Iraq upstream fiscal summary
This report is currently unavailable
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Upstream licences in Federal Iraq are awarded through licensing rounds under Service Contracts terms. These terms have features of both a service contract and a production sharing contract (PSC) and hence are referred to as a Hybrid Service Contract. The last Hybrid Service Contract was awarded in May 2018. The hybrid service contract terms comprise of a royalty, cost fee, remuneration fee and income tax. Remuneration fee is the only biddable parameter and is a percentage of net revenue share. Royalty is levied at 25%, cost fee ceiling varies by oil price from 30% to 70%. Corporate income tax is levied at 35%.
Table of contents
- Basis
- Licence terms
- Government equity participation
-
Fiscal terms
- Bonuses, rentals and fees
- Indirect taxes
- Royalty
- Ring fencing
- Base
- Rate
- Service fee
- Ring fencing
- 13 more item(s)...
- 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 the following images and tables:
-
TimelineTimeline detailsSplit of the barrel - oil
-
Split of the barrel - gasShare of profit - oilShare of profit - gasEffective royalty rate and minimum state share - Oil and GasMaximum government share – Oil and GasState share versus Pre-Share IRR - oilState share versus Pre-Share IRR - gasInvestor IRR versus Pre-Share IRR - oilInvestor IRR versus Pre-Share IRR - gas
- 5 more item(s)...
What's included
This report contains:
Other reports you may be interested in
Country Report
Venezuela upstream summary slides
To complement our more detailed Venezuela upstream summary we provide a slide-pack of the key issues in country.
$3,240
Country Report
Denmark upstream summary slides
To complement our more detailed upstream summary we provide a slide-pack of the key issues.
$5,700
Asset Report
Enoch Norway
Enoch is located on the UK/Norway median line and has an assumed unitisation of 80% in the UK and 20% in Norway.
$3,720
