Country Report

Liberia upstream fiscal summary

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04 July 2018

Liberia upstream fiscal summary

Report summary

PSC based on a new model contract introduced in 2014.  Elements include signature bonuses, annual fees, royalties and income tax.  Cost recovery is fixed at 70%, whilst production splits vary on a sliding scale by rate of return. Exploration success in the region led the government to toughen the fiscal terms.  However, there has been little exploration success in Liberia. Nevertheless, Liberian fiscal terms are relatively attractive on a global scale, with government take between 60-70%.

Table of contents

  • Executive summary
    • Basis
    • Licence terms
    • Government equity participation
    • Fiscal terms
      • Ring fencing
      • Bonuses, rentals and fees
      • Indirect taxes
      • Royalty
      • PSC Cost Recovery
      • PSC Profit Sharing
      • Corporate Income Tax
      • Additional Profits Tax
        • Domestic Market Obligation
      • 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 23 images and tables including:

  • Revenue flow chart - Liberia PSC
  • Timeline
  • Timeline details
  • Split of the barrel - oil
  • Split of the barrel - gas
  • Share of profit - oil
  • Share of profit - gas
  • Effective royalty rate - Oil
  • Effective royalty rate - Gas
  • Effective royalty rate - Oil/Gas
  • Maximum government share - Oil
  • Maximum government share - Gas
  • Maximum government share - Oil/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
  • Bonuses, rentals and fees
  • Current licence, equity and fiscal terms: Table 2
  • Profit Sharing
  • Effective contractor profit share - oil
  • Assumed terms by location - oil
  • Assumed terms by location - Gas

What's included

This report contains:

  • Document

    Liberia upstream fiscal summary

    PDF 257.43 KB