Country Report

Senegal upstream fiscal summary

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28 June 2018

Senegal upstream fiscal summary

Report summary

Simple Production Sharing Contract (PSC)-based fiscal regime, with no royalty. The amount of revenue available for cost recovery is a negotiable item but typical ceilings are 60% onshore, 70% in shallow water and 75% in deepwater. Production remaining after cost recovery is divided between the contractor and the government on a sliding scale linked to production levels and location.  The contractor is also liable for corporate income tax.   The barrel = lifetime revenue / field...

Table of contents

  • Executive summary
    • Basis
    • Licence Terms
    • Government equity participation
    • Fiscal terms
      • Ring fencing
      • Bonuses, Rentals and Fees
      • Indirect taxes
      • Royalty
      • PSC cost recovery
      • PSC profit sharing
      • Additional petroleum taxes
        • Domestic Market Obligation (DMO)
      • Corporate income tax
      • Product pricing
      • Summary of modelled terms
    • Recent history of fiscal changes
      • Timeline
      • Timeline detail
    • Stability Provision
    • Split of the barrel and share of profit
    • Effective royalty rate and maximum government share
    • Progressivity
    • Fiscal deterrence

Tables and charts

This report includes 26 images and tables including:

  • Revenue flow chart: Senegal PSC
  • Split of the barrel - oil
  • Split of the barrel - gas
  • Share of profit - oil
  • Share of profit - gas
  • Economic analysis: Table 1
  • Economic analysis: Table 2
  • Economic analysis: Table 3
  • Maximum government share – onshore, oil and gas
  • Maximum government share – shelf, oil and gas
  • Maximum government share – deepwater, oil and 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
  • Bonuses, rentals and fees
  • Indirect taxes
  • Cost recovery
  • Profit sharing - Oil
  • Profit sharing - Gas
  • Contractor Share Oil
  • Contractor Share Gas
  • Assumed terms by location - Oil
  • Assumed terms by location - Gas
  • Fiscal stability: Image 1
  • Fiscal stability: Table 1

What's included

This report contains:

  • Document

    Senegal upstream fiscal summary

    PDF 269.28 KB