Country Report
Pakistan upstream fiscal summary
Report summary
Upstream licences are awarded through licensing rounds under concession terms for onshore and production sharing contract terms (PSCs) for offshore projects. There is no direct state participation in offshore projects; state participation for onshore projects is not mandatory, varying between 15% to 25% for local partner. Major components of both concession and PSC terms include royalty, corporate income tax,windfall levy, workers participation fund (WPF) and workers welfare fund (WWF) contributions. Under PSC terms, cost recovery ceiling is set to 85% of gross revenue. Profit-sharing is linked to cumulative production levels. All parameters are fixed and not biddable.
Table of contents
- Basis
-
Licence terms
- Indirect taxes
- Royalty
- Ring fencing
- Base
- Rate
- Payment schedule
- PSC production sharing
- Ring fencing
- PSC cost recovery
- Base
- Rate (cost recovery ceiling)
- Recoverable costs
- Unrecovered costs
- PSC profit sharing
- Base
- Rate
- Additional petroleum taxes
- Windfall levy
- Ring fencing
- Base
- Rate (Oil)
- Rate (Gas)
- Onshore (concession)
- Workers profits participation fund (WPPF)
- Base
- Rate
- Payment schedule
- Workers welfare fund (WWF)
- Base
- Rate
- Payment schedule
- Corporate income tax
- Ring fencing
- Onshore (concession)
- Base
- Income
- Deductions
- Rate
- Payment schedule
- Offshore (PSC)
- Base
- Income
- Deductions
- Rate
- Payment schedule
- Summary of modelled terms
- Recent history of fiscal changes
- Stability provisions
-
Split of the barrel and share of profit
- Pakistan Concession
- Pakistan PSC
- Effective royalty rate and maximum government share
-
Progressivity
- Pakistan Concession
- Pakistan PSC
-
Fiscal deterrence
- Pakistan Concession
- Pakistan PSC
Tables and charts
This report includes 44 images and tables including:
- Exploration zones map
- Bonuses, rentals and fees
- Timeline
- Timeline detail
- Effective royalty rate - onshore, oil
- Effective royalty rate - onshore, gas
- Effective royalty rate - shelf, oil
- Effective royalty rate - shelf, gas
- Effective royalty rate - deepwater, oil
- Effective royalty rate - deepwater, gas
- Maximum government share - onshore, oil
- Maximum government share - onshore, gas
- Maximum government share - shelf, oil
- Maximum government share - shelf, gas
- Maximum government share - deepwater, oil
- Maximum government share - deepwater, gas
- Indirect taxes
- Royalty rates
- Contractor profit share by location - oil and gas
- Contractor profit share - oil
- Contactor profit share - gas
- Effective windfall levy rate (oil)
- Effective windfall levy rate (gas)
- Sliding-scale discount to oil price
- Zonal discount and applicable gas price
- Gas prices for sales to the government (based on the oil price) - by zone
- Assumed terms by location - concession
- Assumed terms by location - PSC
- Split of the barrel - oil
- Split of the barrel - gas
- Share of profit - oil
- Share of profit - gas
- 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
- 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
- Investor IRR versus Pre-Share IRR - oil
- Investor IRR versus Pre-Share IRR - gas
What's included
This report contains:
Other reports you may be interested in
28 March 2023
Chad upstream fiscal summary
Country Report
Chad upstream fiscal summary
Detailed analysis of the fiscal system applicable to new licences.
$1,65015 March 2023
Gambia upstream fiscal summary
Country Report
Gambia upstream fiscal summary
Detailed analysis of fiscal systems applicable to new licences in Gambia.
$1,65015 March 2023
Slovenia upstream fiscal summary
Country Report
Slovenia upstream fiscal summary
Detailed analysis of the fiscal system applicable to new licences.
$1,650
