Country report
Yemen upstream fiscal summary
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Report summary
Production Sharing Contract (PSC)-based fiscal regime. The Yemen Oil Company (YOC) has the right to take a carried equity interest of between 5% and 25% upon a commercial discovery. Royalty and production sharing splits are determined by production rates. Cost recovery ceilings are variable and a range of bonuses, rentals and fees are payable. Government efforts to promote gas exploration and develop a domestic gas market have seen the most recent generation of PSCs begin to outline...
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
- Product Pricing
- Summary of 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 - Yemen PSC
- 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
- Economic analysis: Image 7
- Investor IRR versus pre-share IRR - gas
- Contractor profit share - liquids
- Contractor profit share - gas
Tables
- Effective royalty rate and minimum state share - Oil
- Effective royalty rate and minimum state share - Gas
- Maximum government share – Oil
- Maximum government share – Gas
- Bonuses, rentals and fees
- Indirect taxes
- Royalty rate
- Profit sharing
- Assumed terms by location - oil
- Assumed terms by location - gas
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