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

  • Executive summary
    • Basis
    • Licence Terms
    • Government equity participation
    • Fiscal terms
      • 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 25 images and tables including:

  • Revenue flowchart: Sri Lanka PSC
  • 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 266.74 KB