Country Report
Yemen upstream fiscal summary
Report summary
Upstream licences in Yemen are awarded under production sharing contracts (PSCs). Licences are awarded either by direct negotiations or by a formal bid round. Under the PSC regime, signature bonus, production bonus, cost recovery ceiling, excess cost recovery share and contractor profit share are all biddable parameters. Royalty rates are fixed and linked to daily production. Profit sharing rates are linked to daily production. Income tax is paid by the state from it's share of profits.
Table of contents
- Basis
- Licence Terms
- Government equity participation
-
Fiscal terms
- Bonuses, rentals and fees
- Indirect taxes
- Royalty
- PSC production sharing
- Ring fencing
- PSC cost recovery
- Base
- Rate (cost recovery ceiling)
- Recoverable costs
- Unrecovered costs
- Excess cost recovery
- PSC profit sharing
- Base
- Rate
- Payment schedule
- Corporate income tax
- Product Pricing
- Summary of 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:
- Split of the barrel - oil
- Split of the barrel - gas
- Share of profit - oil
- Share of profit - gas
- Effective royalty rate and minimum state share - Oil
- Effective royalty rate and minimum state share - 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
- Profit sharing
- Contractor profit share - liquids
- Contractor profit share - gas
- Assumed terms by location - oil
- Assumed terms by location - gas
What's included
This report contains:
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