Country Report

Mozambique upstream fiscal summary

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28 June 2018

Mozambique upstream fiscal summary

Report summary

Relatively straight-forward Production Sharing Contract (PSC) fiscal regime, with royalty (known as Petroleum Production Tax, or PPT) rates fixed, cost recovery negotiable and production sharing splits based on sliding scale mechanisms with project profitability (the R-Factor).  The level of state participation, through the national oil company, ENH, is negotiated and on an ad hoc basis.   Split of the Barrel The barrel = lifetime revenue / field reserves. Profit = revenue – costs from...

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
      • Additional petroleum taxes
        • Domestic market obligation
      • 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 22 images and tables including:

  • Revenue flowchart: Mozambique PSC
  • Timeline
  • Timeline details
  • Economic analysis: Image 1
  • Economic analysis: Image 2
  • Share of profit - oil
  • Share of profit - gas
  • Effective royalty rate - Oil
  • Effective royalty rate - Gas
  • Maximum government share - Oil
  • Maximum government share - 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
  • Current licence, equity and fiscal terms: Table 2
  • Indirect taxes
  • Current licence, equity and fiscal terms: Table 4
  • Contractor profit share
  • Assumed terms by location - oil
  • Assumed terms by location - Gas

What's included

This report contains:

  • Document

    Mozambique upstream fiscal summary

    PDF 308.73 KB

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