Country Report
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
- Basis
- Licence terms
-
Government equity participation
- Concession terms
- PSA terms
-
Fiscal terms
- Bonuses, rentals and fees
- Indirect taxes
- Royalty
- Concession Terms
- Ring fencing
- Base
- Rate
- Payment schedule
- PSA Terms
- PSC production sharing
- Ring fencing
- PSC cost recovery
- Base
- Rate (cost fee ceiling)
- Recoverable costs
- Unrecovered costs
- PSC profit sharing
- Base
- Rate
- Corporate income tax
- Concession Terms
- Ring fencing
- Base
- Rate
- Payment schedule
- PSA Terms
- Fiscal treatment of decommissioning
- Concession Terms
- PSA Terms
- Product pricing
- Summary of modelled terms
- Recent history of fiscal changes
- Stability provisions
-
Split of the barrel and share of profit
- PSA terms
-
Effective royalty rate and maximum government share
- Concession terms
- PSA terms
- Concession terms
- PSA terms
-
Progressivity
- Concession terms
- PSA terms
-
Fiscal deterrence
- Concession terms
- PSA terms
Tables and charts
This report includes 36 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
- Royalty rate
- Contractor profit share
- Income tax rate
- Concession terms
- PSA terms
- 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
- 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
- State share versus Pre-Share IRR - oil
- 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
- Investor IRR versus Pre-Share IRR - gas
- Investor IRR versus Pre-Share IRR - oil
- Investor IRR versus Pre-Share IRR - gas
What's included
This report contains:
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