Country report

Morocco upstream fiscal summary

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Report summary

Upstream licences in Morocco are awarded under concession terms which are governed by the 2003 hydrocarbon law and 2014 petroleum agreement. The application and awarding of licences are done on an ad hoc basis.Royalty rates vary by location and oil/gas with an initial volume exempt from royalty. Corporate income tax is levied at 31% with a 10 year tax holiday. State owned L'Office national des Hydrocarbures et des Mines (ONHYM) participates in an exploration agreement or commercial discovery development with an equity stake of up to 25%.

What's included

This report contains

  • Document

    Morocco upstream fiscal summary

    PDF 379.08 KB

Table of contents

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

Tables and charts

This report includes 21 images and tables including:

Images

  • Revenue flowchart: Morocco 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 details
  • Effective royalty rate and minimum state share
  • Maximum government share - onshore, oil
  • Maximum government share - shelf/deepwater, oil
  • Maximum government share - onshore, gas
  • Maximum government share - shelf/deepwater, gas
  • Bonuses, rentals and fees
  • Indirect Taxes
  • Royalty rates
  • Assumed terms by location - oil
  • Assumed terms by location - Gas

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