Country Report

Togo upstream fiscal summary

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28 June 2018

Togo upstream fiscal summary

Report summary

Simple Production Sharing Contract (PSC)-based fiscal regime.  Royalty rates are reduced for deepwater (>200m water depth) operations.  Cost recovery rates are negotiable, whilst profit oil is split between contractor and government on a sliding scale linked to production rates.  The contractors liability for income tax is paid on its behalf from the government share of profit oil.  A range of small bonuses, rentals and fees are payable.   The barrel = lifetime revenue / field reserves....

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
      • 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 23 images and tables including:

  • Revenue flowchart: Togo PSC
  • Economic analysis: Table 1
  • Economic analysis: Table 2
  • Effective royalty rate - shelf, Oil
  • Effective royalty rate - deepwater, Oil
  • Effective royalty rate - shelf, Gas
  • Effective royalty rate - deepwater, Oil
  • Maximum government share - shelf, Oil
  • Maximum government share - deepwater, Oil
  • Maximum government share - shelf, Gas
  • Maximum government share - deepwater, 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
  • Royalty rates
  • Profit sharing
  • Effective contractor profit share - oil
  • Effective contractor profit share - gas
  • Assumed terms by location - Oil
  • Assumed terms by location - Gas

What's included

This report contains:

  • Document

    Togo upstream fiscal summary

    PDF 305.36 KB