Country report

South Korea upstream fiscal summary

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Report summary

South Korea's upstream sector is governed by a concession regime. The Ministry of Commerce Industry and Energy (MOCIE) awards right for companies to explore for hydrocarbons in South Korean waters. National oil company (NOC) KNOC explores both on a sole risk basis and with third parties. To date there have been no competitive bid rounds.

What's included

This report contains

  • Document

    South Korea upstream fiscal summary

    PDF 328.20 KB

Table of contents

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

Tables and charts

This report includes 17 images and tables including:

Images

  • Revenue flowchart: South Korea Concession
  • Split of Barrel - oil
  • Split of 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

  • Effective royalty rate and minimum state share
  • Maximum government share and maximum state share
  • Bonuses, rentals and fees
  • Indirect taxes
  • Royalty rates
  • Current licence, equity and fiscal terms: Table 4
  • Assumed terms by location

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