Country Report
South Africa upstream fiscal summary
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
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. Licences are typically awarded on an ad-hoc basis and the vast majority of the active blocks were awarded through direct negotiations.
Table of contents
- Basis
- Licence terms
- Government equity participation
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Fiscal terms
- Bonuses, rentals and fees
- Indirect taxes
- Royalty
- Ring fencing
- Base
- Rate
- Payment schedule
- Corporate income tax
- 6 more item(s)...
- Recent history of fiscal changes
- Stability provisions
- Split of the barrel and share of profit
- Effective royalty rate and maximum government share
- Progressivity
- Fiscal deterrence
Tables and charts
This report includes the following images and tables:
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TimelineTimeline detailsSplit of the barrel - oil
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Split of the barrel - gasShare of profit - oilShare of profit - gasEffective royalty rate and minimum state shareMaximum government share and maximum state shareState share versus Pre-Share IRR – oilState share versus Pre-Share IRR - gasInvestor IRR versus Pre-Share IRR - oilInvestor IRR versus Pre-Share IRR - gas
- 3 more item(s)...
What's included
This report contains:
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