Country Report
Western Sahara upstream fiscal summary
Report summary
Upstream licences in Western Sahara are awarded through licensing rounds under production sharing contract terms (PSC). The model used in this analysis is based on the 2005 licensing round terms. Within the PSC regime, signature bonuses, production bonuses, state equity interest, cost recovery ceilings, and contractor profit shares are all biddable for each block in a licensing round, while royalty rates are fixed by the government.
Table of contents
- Basis
- Licence terms
- Government equity participation
-
Fiscal terms
- Bonuses, rentals and fees
- Indirect taxes
- Royalty
- Base
- Rate
- Payment schedule
- PSC production sharing
- Ring fencing
- PSC cost recovery
- Base
- Rate (cost recovery ceiling)
- Recoverable costs
- Unrecovered costs
- PSC profit sharing
- Base
- Rate
- Corporate income tax
- 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 21 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 - onshore
- Effective royalty rate - shelf
- Effective royalty rate - deepwater
- Maximum government share - onshore
- Maximum government share - shelf
- Maximum government share - deepwater
- 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
- Profit sharing
- Contractor profit share
- Assumed terms by location - oil
What's included
This report contains:
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