Country Report
Syria upstream fiscal summary
Report summary
Companies operating in Syria generally do so under the terms of a Production Sharing Contract (PSC), first introduced in 1985, although Service Contracts also exist. In the event of a commercial discovery, a joint venture operating company, owned 50% by state oil company SPC and 50% by the contractor, is established. The contractor retains 100% equity in the contract and funds all exploration, capital and operating costs. Royalty rates are fixed for oil and gas, at 12.5%. Cost...
Table of contents
- Basis
- Licence Terms
- Government equity participation
-
Fiscal terms
- Bonuses, rentals and fees
- Indirect taxes
- Royalty
- PSC production sharing
- Ring fencing
- PSC cost recovery
- Base
- Rate (cost recovery ceiling)
- Recoverable costs
- Unrecovered costs
- Excess cost recovery
- PSC profit sharing
- Base
- Rate
- Payment schedule
- 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 22 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 and minimum state share - oil
- Effective royalty rate and minimum state share - gas
- Maximum government share – oil
- Maximum government share – 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
- Indirect taxes
- Profit sharing
- Contractor effective oil profit share
- Contractor gas profit share
- Contractor gas profit share
- Assumed terms by location - oil
- Assumed terms by location - gas
What's included
This report contains:
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