Country Report

Mauritania upstream fiscal summary

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28 June 2018

Mauritania upstream fiscal summary

Report summary

Production Sharing Contract (PSC)-based fiscal regime. The State has the option to take 12% in any development licence, and to increase its equity (16% was agreed for Chinguetti) when production exceeds a negotiated threshold (75,000 b/d for Chinguetti).  Signature bonuses and a range of production bonuses and other rentals are payable.  There is no royalty; cost recovery ceilings are negotiable, whilst profit oil splits are biddable and are based upon production rates and water depth.  The...

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
      • 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 26 images and tables including:

  • Revenue flow chart - Mauritania PSC
  • Indirect taxes
  • Timeline
  • Timeline details
  • Split of the barrel - oil
  • Split of the barrel - gas
  • Share of profit - oil
  • Share of profit - gas
  • Effective royalty rate - onshore, oil
  • Effective royalty rate - shelf, oil
  • Effective royalty rate - deepwater, oil
  • Effective royalty rate - onshore, gas
  • Effective royalty rate - shelf, oil
  • Effective royalty rate -deepwater, oil
  • Maximum government share - onshore/shelf, oil
  • Maximum government share - deepwater, oil
  • 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

    Mauritania upstream fiscal summary

    PDF 262.81 KB