Country report

Italy upstream fiscal summary

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Report summary

Italy follows an open-door licensing policy, where companies can apply for available acreage at any time. Upstream licences are awarded under concession terms which are fixed by legislation. Royalty rates range from 7% to 10%, depending on permit location and hydrocarbon type. An initial amount of oil and gas production is exempt from royalty every year (varies by location, 400 to 1,000 b/d of oil and 2.42 to 7.74 mmcfd of gas). Corporate income tax is levied at 24%. A regional income tax of 3.9% is also levied for onshore operations. There is no state participation in upstream licences.

What's included

This report contains

  • Document

    Italy upstream fiscal summary

    PDF 409.50 KB

Table of contents

Tables and charts

This report includes 23 images and tables including:

Images

  • Revenue flowchart: Italy 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

Tables

  • Timeline details
  • Effective royalty rate - onshore, oil and gas
  • Effective royalty rate - shelf/deepwater, oil
  • Effective royalty rate - shelf/deepwater, gas
  • Maximum government share - onshore. oil and gas
  • Maximum government share - shelf/deepwater, oil
  • Maximum government share - shelf/deepwater, gas
  • Bonuses and Fees
  • Area Rentals
  • Current licence, equity and fiscal terms: Table 3
  • Indirect taxes
  • Current licence, equity and fiscal terms: Table 5
  • Current licence, equity and fiscal terms: Table 6

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