Country Report

Mongolia upstream fiscal summary

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28 June 2018

Mongolia upstream fiscal summary

Report summary

Production Sharing Contract (PSC) fiscal system.  Applicable taxes include Bonuses, Royalties, and a negotiable progressive income tax rate.  Profit oil sharing is based upon production rates; corporate income tax is payable by the contractor.   The barrel = lifetime revenue / field reserves. Profit = revenue – costs from barrel charts.  For further details see New Investment: Methodology. Source: Wood Mackenzie

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 19 images and tables including:

  • Revenue flowchart: Mongolia PSC
  • Timeline
  • Timeline details
  • Split of Barrel - oil
  • Split of barrel - gas
  • Share of profit - oil
  • Share of profit - gas
  • Effective royalty rate and minimum state share
  • Maximum government share and maximum state share
  • 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
  • Indirect taxes
  • Profit sharing
  • Contractor Profit Share Oil
  • Contractor Profit Share Gas
  • Assumed terms by location - oil and gas

What's included

This report contains:

  • Document

    Mongolia upstream fiscal summary

    PDF 252.49 KB