Country Report
Montenegro upstream fiscal summary
Report summary
Montenegro has a relatively simple concession regime based on a royalty and income tax. The liquid royalty rates are based on a production rate sliding scale. The gas royalty is kept flat due to limited gas infrastructure in the country. A flat corporate income tax rate is applied and ring-fencing is at the company level. There is no state oil firm and no mandated state equity share. Montenegro has no proven oil and gas reserves.
Table of contents
- Basis
-
Licence Terms
- Exploration Concession Contract
- Production Concession Contract
- Government equity participation
-
Fiscal terms
- Bonuses, rentals and fees
- Indirect taxes
- Royalty
- Ring fencing
- Base
- Royalty rates
- Corporate income tax
- Ring fencing
- Base
- Rate
- Fiscal treatment of decommissioning
- 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:
- Timeline
- Timeline detail
- Split of the barrel - oil
- Split of the barrel - gas
- Share of profit - oil
- Share of profit - gas
- Effective royalty rate - shelf and onshore, oil
- Effective royalty rate - shelf and onshore, gas
- Maximum government share – shelf and onshore, oil
- Maximum government share – shelf and onshore, 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
- Indirect taxes
- Oil royalty rates
- Assumed terms by location - oil
- Assumed terms by location - gas
What's included
This report contains:
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