Country Report
Uganda upstream fiscal summary
Report summary
Upstream licences in Uganda are awarded under production sharing agreements (PSA) terms which are governed by the 2013 Petroleum Act. The 2018 model PSA introduced an R-factor based profit sharing mechanism. Oil royalty rates were based on biddable daily production levels. The Uganda National Oil Company (UNOC) has the option to take a maximum 20% stake in any commercial development, carried through exploration and development phases.
Table of contents
- Basis
- Licence terms
- Government equity participation
-
Fiscal terms
- Bonuses, rentals and fees
- Indirect taxes
- Royalty
- Ring fencing
- Base and rate
- Payment schedule
- PSC production sharing
- Ring fencing
- PSC cost recovery
- Base and rate
- Recoverable costs
- Unrecovered costs
- Excess cost recovery
- PSC profit sharing
- Base and rate
- Payment schedule
- Corporate income tax
- Ring fencing
- Base
- Rate
- Payment schedule
- Fiscal treatment of decommissioning
- Product pricing
- Summary of modelled terms
- 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 20 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
- Effective royalty rate - Oil
- Effective royalty rate - Gas
- Maximum government share - Oil
- Maximum government share - 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
- Bonuses, rentals and fees
- Indirect taxes
- Royalty rate - oil
- Assumed royalty rate - gas
- Profit share
- Assumed terms by location – oil and gas
What's included
This report contains:
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