Country Report
Timor-Leste upstream fiscal summary
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
All upstream licences in Timor-Leste are awarded through licensing rounds under production sharing contract terms (PSCs). The terms are set for each licensing round, and include royalty of 5%, no cost recovery ceiling and contractor’s profit share of 60%. Other non-biddable items include a supplemental profits tax paid of 22.5% and corporate income tax of 30%. The State has an option to take up to 20% stake in any development. In August 2019, Timor-Leste resolved maritime border dispute with Australia and removed Joint Petroleum Development Area (JPDA).The JPDA was ceded to Timor-Leste.
Table of contents
- Basis
- Licence terms
- Government equity participation
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Fiscal terms
- Bonuses, rentals and fees
- Royalty
- Ring fencing
- Base
- Rate
- Payment schedule
- PSC production sharing
- Ring fencing
- 22 more item(s)...
- 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 the following images and tables:
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TimelineTimeline detailsSplit of the barrel - oil
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Split of the barrel - gasShare of profit - oilShare of profit - gasEffective royalty rate and minimum state shareMaximum government share and maximum state shareState share versus Pre-Share IRR - oilState share versus Pre-Share IRR - gasInvestor IRR versus Pre-Share IRR - oilInvestor IRR versus Pre-Share IRR - gas
- 3 more item(s)...
What's included
This report contains:
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