Country Report
Sri Lanka upstream fiscal summary
Report summary
Frontier exploration province, with a Model Production Sharing Contract (PSC) introduced in 2013. PSC terms are relatively straight-forward: royalty and profit sharing are charged based on daily production, which is biddable; cost recovery ceilings is fixed; corporate income tax is fixed and payable by the contractor. A signature bonus and a production bonus upon first production are also payable. The barrel = lifetime revenue / field reserves. Profit = revenue – costs from barrel charts. For further...
Table of contents
- Basis
- Licence terms
- Government equity participation
-
Fiscal terms
- Bonuses, rentals and fees
- Indirect taxes
- Royalty
- Ring fencing
- Base
- Deductions
- Rate
- Payment schedule
- PSC production sharing
- Ring fencing
- PSC cost recovery
- Base
- Rate
- Recoverable costs
- Unrecovered costs
- PSC profit sharing
- Base
- Rate
- Payment schedule
- Additional petroleum taxes
- Domestic market obligation
- Corporate income tax
- Ring fencing
- Base
- Deductions
- Rate
- Payment schedule
- Fiscal treatment of decommissioning costs
- Product Pricing
- Summary of modelled terms
- 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 24 images and tables including:
- Timeline
- Timeline details
- Split of the barrel - oil
- Split of the barrel - gas
- Share of profit - oil
- Share of profit - gas
- Effective royalty rate - onshore / shelf, Oil/gas
- Effective royalty rate - deepwater, Oil/gas
- Maximum government share - onshore / shelf, oil/gas
- Maximum government share - deepwater, oil/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
- Production bonus
- Indirect taxes
- Royalty rates
- Royalty Rates - Oil
- Royalty Rates - Gas
- Profit sharing
- Contractor profit share - Oil
- Contractor profit share - Gas
- Assumed terms by location - oil/gas
What's included
This report contains:
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