Country Report

Libya upstream fiscal summary



You can pay by card or invoice



You can pay by card or invoice

Get this Country Report as part of a subscription

Enquire about subscriptions

Already have a subscription? Sign In

Further information

Pay by Invoice or Credit Card FAQs

Contact us

Submit your details to receive further information about this report.

For details on how your data is used and stored, see our Privacy Notice.

Report summary

Upstream licences in Libya are awarded under exploration and production sharing agreements terms (EPSA). Previously licences were awarded under concession terms. Following on from the success of the EPSA IV licensing rounds, Libya has been working towards converting existing concession and early EPSA licences over to the modern EPSA IV contract terms. This report focuses on the EPSA IV terms.Under the EPSA IV terms, the national oil corporation of Libya takes a large share of production in the range of 70% to 90% 'off the top', but contributes to only 50% of the capital expenditure.The key fiscal terms - contractor's primary production allocation, profit share and signature bonuses are biddable parameters. Profit oil is divided between the contractor and the government on a dual sliding scale basis, which is linked to production rates and a profitability metric. 

What's included

This report contains

  • Document

    Libya upstream fiscal summary

    PDF 332.15 KB

Table of contents

Tables and charts

This report includes 26 images and tables including:


  • 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


  • 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

You may be interested in

Questions about this report?

  • Europe:
    +44 131 243 4699
  • Americas:
    +1 713 470 1900
  • Asia Pacific:
    +61 2 8224 8898