Country Report

Tunisia upstream fiscal summary

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28 June 2018

Tunisia upstream fiscal summary

Report summary

Upstream licences in Tunisia are awarded under two types of contracts, concessions terms and production sharing agreement terms (PSA). This report covers both the concession and PSA terms. Tunisia follows an open licensing policy, where companies can directly bid for open blocks and can apply for either a concession or a PSA. A vast majority of assets are on concession terms. Within the concession fiscal regime, royalty rates vary by project profitability from 2% to 15%. Corporate income tax rates are also linked to project profitability and vary from 50% to 75%. The national oil company has an option to take an equity interest in projects. Within the PSA regime, cost recovery ceilings and contractor profit shares are negotiated for each block. Profit sharing rates are linked to project profitability. Taxes are paid by the state on behalf of the contractor.

Table of contents

  • Executive summary
    • Basis
    • Licence terms
    • Government equity participation
      • Concession terms
      • PSA terms
    • Fiscal terms
      • Ring fencing
        • Concession Terms
        • PSA Terms
      • Royalty
        • Concession Terms
        • PSA Terms
      • PSC cost recovery
      • PSC profit sharing
      • Corporate income tax
        • Concession Terms
        • PSA Terms
      • Fiscal treatment of decommissioning
        • Concession Terms
        • PSA Terms
      • Product pricing
      • Summary of modelled terms
    • Recent history of fiscal changes
      • Timeline
      • Timeline details
    • Stability provisions
    • Split of the barrel and share of profit
    • Effective royalty rate and maximum government share
      • Concession terms
      • PSA terms
      • Concession terms
      • PSA terms
    • Progressivity
      • Concession terms
      • State share versus Pre-Share IRR - oil
      • PSA terms
    • Fiscal deterrence
      • Concession terms
      • Investor IRR versus Pre-Share IRR - gas
      • PSA terms

Tables and charts

This report includes 38 images and tables including:

  • Revenue flowchart: Tunisia Concession
  • Revenue flowchart: Tunisia PSA
  • Split of the barrel - oil
  • Economic analysis: Image 2
  • Share of profit - oil
  • Share of profit - gas
  • Split of the barrel - oil
  • Economic analysis: Image 6
  • Share of profit - oil
  • Share of profit - gas
  • Current licence, equity and fiscal terms: Table 4
  • Current licence, equity and fiscal terms: Table 5
  • Contractor profit share
  • Concession terms
  • Current licence, equity and fiscal terms: Table 8
  • PSA terms
  • Fiscal stability: Image 1
  • Fiscal stability: Table 1
  • Effective royalty rate and minimum state share
  • Effective royalty rate - onshore, Oil
  • Effective royalty rate - offshore, Oil
  • Maximum government share and maximum state share
  • Maximum government share - onshore, Oil
  • Maximum government share - offshore, Oil
  • Economic analysis: Image 9
  • State share versus Pre-Share IRR - gas
  • State share versus Pre-Share IRR - oil
  • State share versus Pre-Share IRR - gas
  • Investor IRR versus Pre-Share IRR - oil
  • Economic analysis: Image 14
  • Investor IRR versus Pre-Share IRR - oil
  • Investor IRR versus Pre-Share IRR - gas
  • Bonuses, rentals and fees
  • Indirect taxes
  • Current licence, equity and fiscal terms: Table 3
  • Royalty rate
  • Current licence, equity and fiscal terms: Table 6
  • Income tax rate

What's included

This report contains:

  • Document

    Tunisia upstream fiscal summary

    PDF 923.70 KB