Country report
Uzbekistan upstream fiscal summary
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Report summary
Most foreign companies operating in Uzbekistan do under the terms of a Production Sharing Contract (PSC). The terms for PSCs remain negotiable items on a case-by-case basis. For a new gas discovery, negotiations would be undertaken with the government to agree on terms under which such a discovery would be developed. Standard PSC terms are relatively straightforward, with profit oil splits on a sliding scale based upon internal rates of return (IRRs). The State will normally take a...
What's included
This report contains
Table of contents
- Executive summary
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Current licence, equity and fiscal terms
- Basis
- Licence terms
- Government equity participation
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Fiscal terms
- Ring fencing
- Bonuses, rentals and fees
- Indirect taxes
- Royalty
- PSC cost recovery
- PSC profit sharing
- Corporate income tax
- Product pricing
- Summary of modelled terms
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Fiscal stability
- Recent history of fiscal changes
- Stability provisions
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Economic analysis
- Split of the barrel and share of profit
- Effective royalty rate and maximum government share
- Progressivity
- Fiscal deterrence
Tables and charts
This report includes 21 images and tables including:
Images
- Revenue flowchart: Uzbekistan 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
- Investor IRR versus pre-share IRR - oil
- Investor IRR versus pre-share IRR - gas
- PSC profit sharing
Tables
- Timeline details
- Effective royalty rate - onshore , oil
- Effective royalty rate - onshore , gas
- Maximum government share – onshore, oil
- Maximum government share – onshore, gas
- Bonuses, rentals and fees
- Indirect taxes
- PSC profit sharing
- Assumed terms by location - oil
- Assumed terms by location - Gas
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