Country Report

Kazakhstan upstream fiscal summary

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19 June 2018

Kazakhstan upstream fiscal summary

Report summary

Most contracts with foreign investors in Kazakhstan are currently governed by Concession (royalty/tax) terms.  Vehicles for Concession operations include Kazakh joint stock companies (JSC), limited liability companies and general or limited partnerships.  The latest model Concession terms took effect in January 2009.  Typically the State will have a minimum of 50% interest in offshore contracts; the state interest varies for onshore projects, and ranges from zero to 100%. Royalty (called...

Table of contents

  • Executive summary
    • Basis
    • Licence terms
    • Government equity participation
    • Fiscal terms
      • Ring fencing
      • Bonuses, rentals and fees
      • Indirect taxes
      • Royalty
      • Export duty
      • Rent tax on export
      • Additional petroleum taxes
      • Alternative subsoil tax
      • 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
    • Investor IRR versus pre-share IRR - oil

Tables and charts

This report includes 27 images and tables including:

  • Revenue flowchart: Kazakhstan Concession
  • Timeline
  • Timeline details
  • Split of the barrel - oil
  • Economic analysis: Image 2
  • Economic analysis: Image 3
  • Economic analysis: Image 4
  • Effective royalty rate - onshore/shelf, Oil
  • Maximum government share – onshore/shelf, oil
  • Maximum government share – onshore/shelf, gas
  • State share versus pre-share IRR - oil
  • State share versus pre-share IRR - gas
  • Economic analysis: Image 7
  • Investor IRR versus pre-share IRR - gas
  • Bonuses, rentals and fees
  • Indirect taxes
  • Oil MET rates
  • MET rates
  • Oil export customs duty
  • Oil export customs duty
  • Rent tax on export
  • Rent tax on export
  • Excess profit tax
  • Excess profit tax rates
  • Current licence, equity and fiscal terms: Table 7
  • Assumed terms by location - oil
  • Assumed terms by location - gas

What's included

This report contains:

  • Document

    Kazakhstan upstream fiscal summary

    PDF 333.25 KB

  • Document

    ChartFile Onshore Kazakhstan(Concession).xls

    XLS 618.50 KB

  • Document

    Kazakhstan upstream fiscal summary

    ZIP 513.22 KB