Country Report

Uzbekistan upstream fiscal summary

This report is currently unavailable

For details on how your data is used and stored, see our Privacy Notice.
 

- FAQs about online orders
- Find out more about subscriptions

*Please note that this report only includes an Excel data file if this is indicated in "What's included" below

Most foreign companies in Uzbekistan operate under Production Sharing Contract (PSC) terms. The terms remain negotiable items on a case-by-case basis. The fiscal terms include a flat cost recovery ceiling for oil and price-based for gas and IRR-based profit share. The state (via wholly-owned Uzbekneftegaz) will normally take a 10-50% working interest in joint projects with foreign investors. 2020 tax code changes increased corporate income tax to 15% and improved loss carry forward limit to 10 years, with taxable base offset limit increased to 60% per year. Some of the main commercial risks relate to marketing of oil and gas. There is a lack of export options and operators typically have to sell oil and gas onto the domestic market where the prevailing price is very low.

Table of contents

  • Basis
  • Licence terms
  • Government equity participation
    • Bonuses, rentals and fees
    • Indirect taxes
    • Royalty
    • Ring fencing
    • Base
    • Rate
    • Payment schedule
    • PSC cost recovery
    • 17 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:

  • Timeline
  • Timeline details
  • Split of the barrel - oil
  • Split of the barrel - gas
  • Share of profit - oil
  • Share of profit - gas
  • Effective royalty rate - onshore , oil
  • Effective royalty rate - onshore , gas
  • Maximum government share – onshore, oil
  • Maximum government share – onshore, gas
  • State share versus pre-share IRR - oil
  • State share versus pre-share IRR - gas
  • 9 more item(s)...

What's included

This report contains:

  • Document

    Uzbekistan upstream fiscal summary

    PDF 913.00 KB