Country Report

Malta upstream fiscal summary

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Malta’s production sharing contract is relatively simple. There is no royalty payable and cost recovery is negotiable up to a maximum rate. Profit splits are negotiable based on a dual sliding-scale linked to project profitability and production rates. Contractors are liable for corporate income tax. We consider the Malta regime to be stable as there have been few fiscal changes and open acreage is awarded through direct negotiation.

Table of contents

  • Basis
    • Relinquishment
  • Government equity participation
    • Ring fencing
    • Bonuses, rentals and fees
    • Royalty
    • Indirect taxes
    • PSC cost recovery
    • Basis
    • Deductions
    • PSC profit sharing
    • Basis
    • Corporate income tax
    • Base
    • Deductions
    • 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 22 images and tables including:

  • Licence Type
  • Timeline detail
  • Split of the barrel - oil
  • Split of the barrel - gas
  • Share of profit - oil
  • Share of profit - gas
  • Effective royalty rate - shelf, oil and gas
  • Effective royalty rate - deepwater, oil and gas
  • Maximum government - shelf, oil and gas
  • Maximum government - deepwater, oil and 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
  • Area Rentals
  • Indirect taxes
  • Cost recovery ceiling by environment
  • Profit sharing - deepwater
  • Profit sharing - shelf
  • Assumed terms - Shelf
  • Assumed terms - Deepwater

What's included

This report contains:

  • Document

    Malta upstream fiscal summary

    PDF 1.10 MB