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Israel upstream fiscal summary

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Report summary

Very simple Concession fiscal regime, with royalty and corporate income tax payable. An additional profits levy was enacted in 2010 following the discovery of the Tamar and Leviathan fields. A moratorium on new license awards, imposed in after very large gas discoveries, was lifted in 2016 and the first offshore license round was launched. Awards are expected in late 2017.

What's included

This report contains

  • Document

    Israel upstream fiscal summary

    PDF 382.85 KB

Table of contents

  • Executive summary
      • Ring fencing
      • Bonuses, rentals and fees
      • Indirect taxes
      • Royalty
      • Windfall profit levy
      • Corporate income tax
      • Fiscal treatment of decommissioning
      • 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:

Images

  • Revenue flowchart - Israel Concession
  • Timeline
  • Split of the barrel - oil
  • Split of the barrel - gas
  • Share of profit - oil
  • Share of profit - 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
  • Windfall profits levy

Tables

  • Fiscal stability: Table 1
  • Effective royalty rate and minimum state share - Oil
  • Effective royalty rate and minimum state share - Gas
  • Maximum government share – oil
  • Maximum government share – gas
  • Bonuses, rentals and fees
  • Indirect taxes
  • Assumed terms by location - oil
  • Assumed terms by location - gas

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