Country report
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6 Pages

Iraq upstream fiscal summary

Iraq upstream fiscal summary

Report summary

Technical Service Contracts (TSC) for discovered resource opportunities were introduced in late 2008 and are intended to be the basis for all future contracts covering field redevelopment and production in federal Iraq. Terms under the TSC are, for the most part, non-negotiable. Contractors receive cost recovery on a dollar for dollar basis and a remuneration (profit) fee. Contracts are competitively tendered with awards based upon on two biddable items - remuneration fee and plateau...

What's included?

This report includes 1 file(s)

  • Iraq upstream fiscal summary PDF - 362.92 KB 6 Pages, 5 Tables, 2 Figures


Volatility in oil markets has led players in the upstream oil and gas industry to focus on reducing capital spend and operating costs. At the same time, governments need to review fiscal terms to maintain attractiveness and investment.

This country report gives an overview of the key fiscal issues for this country. If you’re interested in identifying and assessing upstream investment and expansion opportunities, this upstream fiscal summary report is your definitive commercial guide.

Potential investors, governments and companies in the oil and gas sector can use it to gain a better understanding of the critical issues for development opportunities in this country.

Wood Mackenzie's 500 dedicated analysts are located in the markets they cover. They produce forward-looking analysis at both country and asset level across the globe, backed by our robust proprietary database of trusted research. Proprietary data means a superior level of analysis that is simply not available anywhere else. Wood Mackenzie is the recognised gold standard in commercial data and analysis.

  • Executive summary
  • Current licence, equity and fiscal terms
    • Basis
    • Licence terms
    • Government equity participation
    • Fiscal terms
      • Ring Fencing
      • Bonuses, rentals and fees
      • TSC service fee
        • Cost fee
        • Remuneration fee
      • Indirect taxes
      • Corporate income tax
      • Product Pricing
      • Summary of terms
  • Fiscal stability
    • Recent history of fiscal changes
    • Stability provisions

In this report there are 7 tables or charts, including:

  • Executive summary
    • Revenue flowchart: Iraq TSC
  • Current licence, equity and fiscal terms
    • Bonuses, rentals and fees
    • Remuneration fee
    • Indirect taxes
    • Assumed terms by location - oil
  • Fiscal stability
    • Timeline
    • Timeline details
Requester's name : .............
Department : .............
Authoriser's Name : .............
Authoriser's signature : .............
Date : .............
Cost Centre : .............

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