Country Report

Timor-Leste/Australia JPDA upstream fiscal summary

Get this report

$1,650

You can pay by card or invoice

Contact us

Submit your details to receive further information about this report.

For details on how your data is used and stored, see our Privacy Notice.
 

- Available as part of a subscription
- FAQ's about online orders

28 June 2018

Timor-Leste/Australia JPDA upstream fiscal summary

Report summary

A new Model Production Sharing Contract (PSC) covering the Timor Leste-Australia Joint Petroleum Development Area (JPDA) was introduced in 2005, whilst the CMATS treaty of distribution of Greater Sunrise revenues between Australia and Timor Leste was signed in 2007. For new licences, other than any agreement on distribution of revenues between Timor-Leste and Australia, the PSC terms are essentially the same as for Timor-Leste alone.  The royalty rate, cost recovery ceiling and profit oil...

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
      • Corporate Income Tax
        • Small Field Depreciation (not included in the model):
      • Additional Profit 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 16 images and tables including:

  • Revenue flow chart: Timor Leste-Australia JPDA
  • 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
  • Maximum government share and maximum state share
  • 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
  • Assumed terms by location - oil and gas

What's included

This report contains:

  • Document

    Timor-Leste/Australia JPDA upstream fiscal summary

    PDF 258.65 KB