Country report
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30 Pages

Somalia upstream fiscal summary


Somalia upstream fiscal summary

Report summary

Complex PSC Regime split under three governing bodies. Petroleum operations are regulated and taxed by the different administrative authorities in Somalia, Somaliland, and the semi-autonomous region of Puntland.  While tax categories are the same in all regions (consisting primarily of Royalties, Profit Share, and Income Tax), but amounts and structure vary by regime.

What's included?

This report includes 1 file(s)

  • Somalia upstream fiscal summary PDF - 635.48 KB 30 Pages, 22 Tables, 39 Figures

Description

Volatility in oil markets has led players in the upstream oil and gas industry to focus on reducing capital spend and operating costs. At the same time, governments need to review fiscal terms to maintain attractiveness and investment.

This country report gives an overview of the key fiscal issues for this country. If you’re interested in identifying and assessing upstream investment and expansion opportunities, this upstream fiscal summary report is your definitive commercial guide.

Potential investors, governments and companies in the oil and gas sector can use it to gain a better understanding of the critical issues for development opportunities in this country.

Wood Mackenzie's 500 dedicated analysts are located in the markets they cover. They produce forward-looking analysis at both country and asset level across the globe, backed by our robust proprietary database of trusted research. Proprietary data means a superior level of analysis that is simply not available anywhere else. Wood Mackenzie is the recognised gold standard in commercial data and analysis.

  • Executive summary
  • Current licence, equity and fiscal terms
    • Basis
      • Somalia (Federal)
      • Somaliland
      • Puntland
    • Licence terms
      • Somalia and Puntland
      • Somaliland
    • Government equity participation
      • Somalia
      • Somaliland
      • Puntland
    • Fiscal terms
      • Ring fencing
      • Each licence has its own ring fence for tax purposes.
      • Bonuses, rentals and fees
      • Indirect taxes
      • Royalty
        • Somalia
        • Somaliland
        • Puntland
      • PSC cost recovery
        • Somalia
        • Somaliland
        • Puntland
      • PSC profit sharing
        • Somalia
        • Somaliland
        • Puntland
      • Additional petroleum taxes
        • Somalia
      • Corporate income tax
        • omalia
        • Somaliland
        • Puntland
      • Product pricing
      • Summary of modelled terms
  • Fiscal stability
    • Recent history of fiscal changes
    • Stability provisions
  • Economic analysis
    • Somalia (Federal) PSC
      • Split of the barrel and share of profit
    • Effective royalty rate and maximum government share
    • Progressivity
    • Fiscal deterrence
    • Somaliland PSC
      • Split of the barrel and share of profit
    • Effective royalty rate and maximum government share
      • Maximum government share - Oil and Gas
    • Progressivity
    • Fiscal deterrence
    • Puntland PSC
      • Split of the barrel and share of profit
    • Effective royalty rate and maximum government share
      • Maximum government share and maximum state share
    • Progressivity
    • Fiscal deterrence

In this report there are 61 tables or charts, including:

  • Executive summary
    • Revenue flowchart: Somalia (Federal) PSC
    • Revenue flowchart: Somaliland PSC
    • Revenue flowchart: Puntland PSC
  • Current licence, equity and fiscal terms
    • Current licence, equity and fiscal terms: Table 1
    • Indirect taxes
    • Oil royalty:
    • Gas royalty:
    • Current licence, equity and fiscal terms: Image 1
    • Current licence, equity and fiscal terms: Image 2
    • Current licence, equity and fiscal terms: Image 3
    • Current licence, equity and fiscal terms: Image 4
    • Royalty rates in Puntland
    • Current licence, equity and fiscal terms: Image 5
    • Current licence, equity and fiscal terms: Image 6
    • Oil Profit Sharing (contractor profit share)
    • Gas Profit Sharing (contractor profit share)
    • Current licence, equity and fiscal terms: Image 7
    • Current licence, equity and fiscal terms: Image 8
    • Current licence, equity and fiscal terms: Image 9
    • Current licence, equity and fiscal terms: Image 10
    • Current licence, equity and fiscal terms: Table 8
    • Current licence, equity and fiscal terms: Table 9
    • Current licence, equity and fiscal terms: Image 11
    • Current licence, equity and fiscal terms: Table 10
    • Somalia - Assumed terms Gas
    • Current licence, equity and fiscal terms: Table 12
    • Puntland - Assumed terms
  • Fiscal stability
    • Timeline
    • Timeline details
  • Economic analysis
    • Split of the barrel - oil
    • Split of the barrel - gas
    • Share of profit - oil
    • Share of profit - gas
    • Economic analysis: Table 1
    • Effective royalty rate - Gas
    • Economic analysis: Table 3
    • 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
    • Split of the barrel - oil
    • Split of the barrel - gas
    • Share of profit - oil
    • Share of profit - gas
    • Effective royalty rate - Oil
    • Effective royalty rate - Gas
    • Economic analysis: Table 6
    • 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
    • Split of the barrel - oil
    • Split of the barrel - gas
    • Share of profit - oil
    • Share of profit - gas
    • Effective royalty rate and minimum state share
    • Economic analysis: Table 8
    • 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
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