Country Report

Portugal upstream fiscal summary

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Report summary

Very simple Concession fiscal regime, with only royalty and corporate income tax (and some small municipal taxes for onshore fields) payable.  Royalty rates vary with location (onshore, shallow offshore and deepwater) and production rates, favouring deeper water operations. The barrel = lifetime revenue / field reserves. Profit = revenue – costs from barrel charts.  For further details see New Investment: Methodology. Source: Wood Mackenzie

What's included

This report contains

  • Document

    Portugal upstream fiscal summary

    PDF 387.18 KB

Table of contents

Tables and charts

This report includes 27 images and tables including:

Tables

  • Indirect taxes
  • Royalty rates
  • Timeline detail
  • Effective royalty rate - onshore, oil
  • Effective royalty rate - onshore, gas
  • Effective royalty rate - shelf and deepwater, oil
  • Effective royalty rate - shelf and deepwater, gas
  • Maximum government share – onshore, oil
  • Maximum government share – onshore, gas
  • Maximum government share – shelf and deepwater, oil
  • Maximum government share – shelf and deepwater, gas
  • Bonuses, rentals and fees
  • Current licence, equity and fiscal terms: Table 4
  • Assumed terms by location - oil
  • Assumed terms by location - gas

Images

  • Revenue flowchart - Portugal Concession
  • Current licence, equity and fiscal terms: Image 1
  • 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
  • Current licence, equity and fiscal terms: Image 2

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