Oman upstream fiscal summary
Oman issues licenses under a Production Sharing Contract (PSC) regime with several terms negotiated on a contract-by-contract basis with the Ministry of Oil and Gas (MOG). Contracts may be awarded through direct negotiation with the government; periodic license rounds are also held to generate interest. Profit oil splits may be fixed, or on a sliding scale based upon production rates. Corporate income tax is paid on the contractors behalf by the government. A range of bonuses, rentals and fees are payable.