Country report

São Tomé and Príncipe upstream fiscal summary

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Report summary

Upstream licences are awarded under production sharing contract (PSC) terms which are governed by the Petroleum Taxation Law 2009 and Exclusive Economic Zone (EEZ) model contract. Licences are granted through bidding rounds or direct negotiations with companies (single licensing round was held in 2010). Royalty rates and cost recovery ceilings are fixed. Profit sharing is based on the contractors pre tax rate of return. Corporate income tax is levied at a 30% rate on contractor's revenue less operating costs depreciation of capital expenditures and abandonment provision. Signature bonuses and fees are payable and are the only biddable or negotiable fiscal terms

What's included

This report contains

  • Document

    MinMaxShare Sao Tome Principe PSC.xls

    XLS 163.00 KB

  • Document

    São Tomé and Príncipe upstream fiscal summary

    PDF 376.37 KB

  • Document

    São Tomé and Príncipe upstream fiscal summary

    ZIP 429.37 KB

Table of contents

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

Tables and charts

This report includes 18 images and tables including:

Images

  • Revenue flowchart: São Tomé and Príncipe PSC
  • Fiscal stability: Image 1
  • 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 1

Tables

  • Fiscal stability: Table 1
  • Effective royalty rate - onshore/ shelf/ deepwater oil, gas
  • Bonuses, rentals and fees
  • Indirect taxes
  • Current licence, equity and fiscal terms: Table 3
  • Fiscal treatment of decommissioning
  • Economics analysis: Table 2

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