Country report

Norway upstream fiscal summary

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Report summary

Upstream licences in Norway are awarded under concession fiscal terms in a series of licensing rounds on a regular basis as opposed to direct negotiations. Norway has a profit based fiscal system where Corporate Income Tax (24%) and Special Tax (54%) are both payable. They are not deductible against each other hence the total marginal tax rate payable is 78%. Some minor CO2 and NOx levies are payable on gas flared gas or oil/condensate used for power generation and nitrous oxide emissions.

What's included

This report contains

  • Document

    Norway upstream fiscal summary

    PDF 354.23 KB

Table of contents

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

Tables and charts

This report includes 17 images and tables including:

Images

  • Revenue flowchart: Norway 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 deepwater, oil and gas
  • Maximum government share - shelf and deepwater, oil and gas
  • Bonuses and fees
  • Area rentals
  • Indirect taxes
  • Norway Concession

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