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Nigeria-Sao Tome JDZ upstream fiscal summary

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28 June 2018

Nigeria-Sao Tome JDZ upstream fiscal summary

Report summary

Production sharing Contract (PSC)-based fiscal regime.  Signature bonuses are a bid item, and a range of production bonuses and rentals and fees are payable.  Royalty is levied on oil production, with rates on a sliding scale wih production rates; no royalty is payable on gas production.  Cost recovery ceilings are fixed.  Profit oil is divided between the contractor and the government on a sliding scale linked to project profitability (an R-Factor calculation).  The contractor is also...

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
      • Corporate income tax
    • PSC profit sharing
      • 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
      • Effective royalty rate - deepwater, gas
      • Maximum government share - deepwater, gas
    • Progressivity
    • Fiscal deterrence

Tables and charts

This report includes 21 images and tables including:

  • Revenue flowchart: Nigeria-Sao Tome JDZ PSC
  • Profit sharing
  • Effective contractor profit share
  • Economic analysis: Image 1
  • Economic analysis: Image 2
  • Economic analysis: Image 3
  • Economic analysis: Image 4
  • Effective royalty rate - deepwater, oil
  • 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
  • Production bonuses
  • Indirect taxes
  • Royalty rates
  • Effective royalty - oil
  • Assumed terms by location
  • Economic analysis: Table 2
  • Maximum government share - deepwater, oil
  • Economic analysis: Table 4

What's included

This report contains:

  • Document

    Nigeria-Sao Tome JDZ upstream fiscal summary

    PDF 292.33 KB

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