Country Report
Kurdistan upstream fiscal summary
This report is currently unavailable
Report summary
The Kurdistan Regional Government (KRG) offers Production Sharing Contracts (PSCs) to investors and several have been awarded in recent years. The terms are relatively straightforward, with the investor's production sharing terms varying according to the perceived prospectivity and actual profitability of the contract area. The KRG's authority to award contracts has, however, been challenged by the federal government of Iraq and significant uncertainty surrounds their future...
Table of contents
- Basis
- Licence Terms
- Government equity participation
-
Fiscal terms
- Production Bonus
- Indirect Taxes
- Royalty
- Ring fencing
- Base
- Rate
- Payment schedule
- PSC cost recovery
- Ring fencing
- Base
- Rate (cost recovery ceiling)
- Recoverable costs
- Unrecovered costs
- PSC profit sharing
- Base
- Rate
- Corporate income tax
- Additional profits 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:
- Bonuses, rentals and fees
- 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 - Oil
- Effective royalty rate and minimum state share - Gas
- Maximum government share – Oil
- Maximum government share – 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
- Indirect Taxes
- Profit sharing - onshore
- Assumed terms by location - oil
- Assumed terms by location - gas
What's included
This report contains:
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