Country Report

South Africa upstream fiscal summary

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Report summary

Concession-based fiscal regime.  The state has the option to participate in upstream developments, through PetroSA, with an interest of up to 10%.  There is also a maximum 10% farm-in provision for Black Economic Empowerment (BEE) companies at pre-defined commercial terms. Relatively straightforward royalty/tax system although the mechanics of the royalty calculation are unusual compared to most petroleum fiscal systems.   The barrel = lifetime revenue / field reserves. Profit =...

What's included

This report contains

  • Document

    South Africa upstream fiscal summary

    PDF 311.08 KB

Table of contents

Tables and charts

This report includes 17 images and tables including:

Tables

  • Timeline details
  • Effective royalty rate and minimum state share
  • Maximum government share and maximum state share
  • Bonuses, rentals and fees
  • Indirect taxes
  • Royalty rates
  • Assumed terms by location

Images

  • Revenue flowchart: South Africa Concession
  • 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

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