Country Report

Namibia upstream fiscal summary

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28 June 2018

Namibia upstream fiscal summary

Report summary

Relatively simple Concession-based fiscal regime with new terms introduced for the most recent, third and fourth licensing rounds.  Royalty and Petroleum Income Tax (PIT) rates are fixed and payable.  There is an additional profits tax payable on a sliding scale linked to contractors rate of return, which kicks in at anything over a 15% IRR. Split of the Barrel The barrel = lifetime revenue / field reserves. Profit = revenue – costs from barrel charts.  For further details see New...

Table of contents

    • Revenue flowchart: Namibia Concession
    • Basis
    • Licence terms
    • Government equity participation
    • Fiscal terms
      • Ring fencing
      • Bonuses, rentals and fees
      • Indirect taxes
      • Royalty
      • Additional petroleum taxes
      • 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
      • Maximum government share and maximum state share - shelf/deepwater
    • Progressivity
    • Fiscal deterrence

Tables and charts

This report includes 19 images and tables including:

  • Executive summary: Image 1
  • Timeline
  • Timeline details
  • Split of the barrel - oil
  • Split of the barrel - gas
  • Share of profit - oil
  • Share of profit - gas
  • Effective royalty rate and minimum state share - onshore/shelf/deepwater
  • Maximum government share and maximum state share - onshore
  • 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
  • APT - tranches and rates
  • APT - marginal and effective rates
  • Assumed terms by location - oil and gas
  • Economic analysis: Table 3

What's included

This report contains:

  • Document

    Namibia upstream fiscal summary

    PDF 314.42 KB