Country Report

Sri Lanka upstream fiscal summary

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28 June 2018

Sri Lanka upstream fiscal summary

Report summary

Frontier exploration province, with a Model Production Sharing Contract (PSC) introduced in 2008. PSC terms are relatively straight-forward: royalty and cost recovery ceilings are fixed; profit oil sharing is based upon project profitability; corporate income tax is 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
    • Ring fencing
    • Bonuses, Rentals and Fees
    • Indirect taxes
    • Royalty
    • PSC Cost Recovery
    • PSC Profit Sharing
    • Additional petroleum taxes
    • Domestic Market Obligation
    • Corporate Income Tax
    • 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, Oil/gas
  • Effective royalty rate - shelf, Oil/gas
  • Effective royalty rate - deepwater, Oil/gas
  • Maximum government share - onshore, oil/gas
  • Maximum government share - 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
  • Royalty rates
  • Profit sharing
  • Contractor profit share - Oil
  • Contractor profit share - Gas
  • Assumed terms by location - oil
  • Assumed terms by location - Gas

What's included

This report contains:

  • Document

    Sri Lanka upstream fiscal summary

    PDF 919.08 KB

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