Country report

Montenegro upstream fiscal summary

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Report summary

The government of Montenegro adopted "The Law on Exploration and Production of Hydrocarbons" in July 2010 and the "Law on Hydrocarbon Tax" in July 2014. These two laws define the regulation and taxation of the upstream sector in Montenegro. In 2014 a bid round was held under simple concession terms with taxes based primarily on Royalty and a modified Income Tax.

What's included

This report contains

  • Document

    Montenegro upstream fiscal summary

    PDF 369.66 KB

Table of contents

  • Executive summary
  • Current licence, equity and fiscal terms
  • Fiscal stability
  • Economic analysis

Tables and charts

This report includes 20 images and tables including:

Images

  • Revenue flowchart - Montenegro Concession
  • Timeline
  • Split of the barrel - oil
  • Split of the barrel - gas
  • Share of profit - oil
  • Share of profit - 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

Tables

  • Timeline detail
  • Effective royalty rate - shelf and onshore, oil
  • Bonuses, rentals and fees
  • Indirect taxes
  • Royalty rates
  • Assumed terms by location - oil
  • Assumed terms by location - oil
  • Economic analysis: Table 2
  • Maximum government share – shelf and onshore, oil
  • Maximum government share – shelf and onshore, gas

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