Country report

Libya upstream fiscal summary

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Report summary

There are two fiscal regimes in force in Libya: Concession agreements and Exploration and Production Sharing Agreements (EPSA). EPSAs are fundamentally different in structure to other production sharing contracts in that the government takes a large share of production 'off the top'. The latest EPSA model contract (EPSA IV) was introduced in 2005. Following on from the success of the EPSA IV licensing rounds Libya has been working towards converting existing Concession and early EPSA...

What's included

This report contains

  • Document

    Libya upstream fiscal summary

    PDF 410.78 KB

Table of contents

  • Executive summary
  • Current licence, equity and fiscal terms
  • Fiscal stability
  • Economic analysis

Tables and charts

This report includes 26 images and tables including:

Images

  • Revenue flowchart: Libya PSC
  • Timeline
  • Split of the barrel - oil
  • Split of the barrel - gas
  • Share of profit - oil
  • Share of profit - gas
  • Investor IRR versus Pre-Share IRR - oil
  • Investor IRR versus Pre-Share IRR - gas
  • Contractor profit share
  • State share versus Pre-Share IRR - oil
  • State share versus Pre-Share IRR - gas

Tables

  • Current licence, equity and fiscal terms: Table 1
  • Timeline details
  • Effective royalty rate - onshore, oil
  • Effective royalty rate - offshore, oil
  • Effective royalty rate - onshore, gas
  • Effective royalty rate - offshore, gas
  • Maximum government share - onshore, oil
  • Maximum government share - offshore, oil
  • Maximum government share - onshore, gas
  • Maximum government share - offshore, gas
  • Bonuses, rentals and fees
  • Indirect Taxes
  • Current licence, equity and fiscal terms: Table 4
  • Current licence, equity and fiscal terms: Table 5
  • Summary of modelled terms

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