Turkmenistan upstream fiscal summary
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Report summary
Upstream operations involving foreign investors are governed by Production Sharing Contract (PSC) terms. The State normally takes a carried 20-50% stake in PSCs and Turkmengaz currently owns 100% of all onshore gas projects, with IOCs contributing on a service basis only. PSC terms vary from contract to contract because of the ad hoc nature of negotiations and the fact that a number of the terms (e.g., bonuses and profit splits) are negotiable items. The level of negotiated...
Table of contents
- Executive summary
-
Current licence, equity and fiscal terms
- Basis
- Licence terms
- Government equity participation
-
Fiscal terms
- Ring fencing
- Bonuses, rentals and fees
- Indirect taxes
- Royalty
- PSC cost recovery
- PSC profit sharing
- Product pricing
- Summary of modelled terms
-
Fiscal stability
- Recent history of fiscal changes
- Stability provisions
-
Economic analysis
- Split of the barrel and share of profit
- Effective royalty rate and maximum government share
- Progressivity
- Fiscal deterrence
- Investor IRR versus pre-share IRR - oil
Tables and charts
This report includes 23 images and tables including:
- Revenue flowchart: Turkmenistan PSC
- Timeline
- Timeline details
- Split of the barrel - oil
- Economic analysis: Image 2
- Economic analysis: Image 3
- Economic analysis: Image 4
- Effective royalty rate - onshore/shelf , Oil
- Effective royalty rate - onshore/shelf , Gas
- Maximum government share – onshore/shelf, oil and gas
- State share versus pre-share IRR - oil
- State share versus pre-share IRR - gas
- Economic analysis: Image 7
- Investor IRR versus pre-share IRR - gas
- Bonuses, rentals and fees
- Indirect taxes
- Royalty rates
- Liquids royalty rate
- Gas royalty rate
- PSC profit sharing
- PSC profit sharing
- Assumed terms by location - oil
- Assumed terms by location - Gas
What's included
This report contains:
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