Country Report
Turkmenistan upstream fiscal summary
This report is currently unavailable
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Upstream licences are awarded under service contract terms for onshore and production sharing contract terms (PSCs) for offshore projects. PSC terms vary from contract to contract because of the ad-hoc nature of negotiations and the fact that a number of the terms are negotiable items. The level of negotiated government share generally reflects the level of expenditure and risk involved. Royalty varies with production rates, whilst profit oil splits vary on a sliding scale based on R-Factor. Cost recovety ceiling is based on a flat rate. Signature, production and commerciality bonuses are biddable items. Corporate income tax at 20% rate is payable. In PSCs, the state participates via wholly-owned Turkmenneft, which normally takes a 10-50% stake, carried through the exploration phase. Another state-owned company Turkmengaz currently owns 100% of most onshore gas projects, with IOCs contributing on a service basis only.
Table of contents
- Basis
- Licence terms
- Government equity participation
-
Fiscal terms
- Ring fencing
- Bonuses, rentals and fees
- Indirect taxes
- Royalty
- Ring fencing
- Base
- Rate
- Payment schedule
- 16 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:
-
TimelineTimeline detailsSplit of the barrel - oil
-
Split of the barrel - gasShare of profit - oilShare of profit - gasEffective royalty rate - onshore/shelf , OilEffective royalty rate - onshore/shelf , GasMaximum government share – onshore/shelf, oil and gasState share versus pre-share IRR - oilState share versus pre-share IRR - gasInvestor IRR versus pre-share IRR - oil
- 11 more item(s)...
What's included
This report contains:
Other reports you may be interested in
Asset Report
East Cheleken
Mitro International (Cyprus/Turkmenistan) and state-owned NAPECO operate the onshore East Cheleken oil field in west Turkmenistan. The ...
$3,720
Country Report
Egypt upstream summary slides
To complement our more detailed upstream summary we provide a slide-pack of the key issues.
$5,700
Insight
Regional fiscal benchmarking: Black Sea and Caspian
In this report, we compare the current fiscal state of play in Black Sea and the Caspian.
$1,350
