Country report

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...

What's included

This report contains

  • Document

    Turkmenistan upstream fiscal summary

    PDF 359.60 KB

Table of contents

  • Executive summary
  • Current licence, equity and fiscal terms
  • Fiscal stability
  • Economic analysis

Tables and charts

This report includes 23 images and tables including:


  • Revenue flowchart: Turkmenistan PSC
  • Timeline
  • Split of the barrel - oil
  • Economic analysis: Image 2
  • Economic analysis: Image 3
  • Economic analysis: Image 4
  • 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
  • Liquids royalty rate
  • Gas royalty rate
  • PSC profit sharing


  • Timeline details
  • Effective royalty rate - onshore/shelf , Oil
  • Effective royalty rate - onshore/shelf , Gas
  • Maximum government share – onshore/shelf, oil and gas
  • Bonuses, rentals and fees
  • Indirect taxes
  • Royalty rates
  • PSC profit sharing
  • Assumed terms by location - oil
  • Assumed terms by location - Gas

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