Country Report

Ireland upstream fiscal summary

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04 July 2018

Ireland upstream fiscal summary

Report summary

Relatively simple Concession fiscal regime where royalty has been abolished and an additional profits tax (the Petroleum Resource Rent Tax, or PRRT) may apply depending upon project profitability.  Older licences (pre-1992) are still liable for royalty and also pay a higher level of corporate income tax than more recent and future licences. Split of the Barrel The barrel = lifetime revenue / field reserves. Profit = revenue – costs from barrel charts.  For further details see New Investment:...

Table of contents

  • Executive summary
    • Basis
    • Licence terms
    • Government equity participation
    • Fiscal terms
      • Ring fencing
      • Bonuses, rentals and fees
      • Royalty
      • Indirect taxes
      • Additional petroleum taxes
        • Petroleum Production Tax
      • 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 20 images and tables including:

  • Revenue flowchart: Ireland Concession
  • Licence Terms
  • 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
  • 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 and Fees
  • Area Rentals
  • Application Fees
  • Indirect Taxes
  • Ireland Concession Terms
  • R Factor

What's included

This report contains:

  • Document

    Ireland upstream fiscal summary

    PDF 294.35 KB