Country Report

Kurdistan upstream fiscal summary



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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...

What's included

This report contains

  • Document

    Iraq (Kurdistan) upstream fiscal summary

    PDF 318.44 KB

Table of contents

  • Executive summary
  • Current licence, equity and fiscal 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 15 images and tables including:


  • Timeline details
  • Effective royalty rate and minimum state share - Oil
  • Effective royalty rate and minimum state share - Gas
  • Maximum government share – Oil
  • Maximum government share – Gas


  • Revenue flowchart: Iraq (Kurdistan) PSC
  • 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

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