Country report

Western Sahara upstream fiscal summary

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Report summary

Production sharing Contract (PSC) based fiscal regime. Signature bonuses cost recovery ceiling and profit sharing (linked to the contractor's rate of return (IRR)) are all negotiable while royalty rates are fixed by government. The contractors liability for income tax is paid by the state. Since the withdrawal of the Spanish colonial government in 1976 Morocco has governed Western Sahara. SADR claims that it has never been a part of the Kingdom of Morocco. Despite growing...

What's included

This report contains

  • Document

    Western Sahara upstream fiscal summary

    PDF 389.29 KB

Table of contents

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

Tables and charts

This report includes 22 images and tables including:

Images

  • Revenue flowchart: Western Sahara PSC
  • Timeline
  • Split of the barrel - oil
  • Split of the barrel - gas
  • Share of profit - oil
  • Share of profit - 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
  • Contractor profit share

Tables

  • Timeline details
  • Effective royalty rate - onshore
  • Effective royalty rate - shelf
  • Effective royalty rate - deepwater
  • Maximum government share - onshore
  • Maximum government share - shelf
  • Maximum government share - deepwater
  • Bonuses, rentals and fees
  • Indirect taxes
  • Profit sharing
  • Assumed terms by location - oil

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