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Fiscal system in Hydrocarbon.pdf

Field c government take and project irr at different

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Field C Government Take and Project IRR at Different Cost Recovery Limit Fiscal Model 3 50.0% 52.0% 54.0% 56.0% 58.0% 60.0% 62.0% Cost Recovery Limit Percentage Government Take 410.0 420.0 430.0 440.0 450.0 460.0 470.0 Contractor’s Cash Flow (NPV 10%) IRR Govt Take NPV Field C Government Take and Project IRR at Different Cost Recovery Limit Fiscal Model 4 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% 80.0% Cost Recovery Limit Percentage Government Take 340.0 350.0 360.0 370.0 380.0 390.0 400.0 Contractor’s Cash Flow (NPV 10%) IRR Govt Take NPV Field C Government Take and Project IRR at Different Cost Recovery Limit Fiscal Model 2 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% Cost Recovery Limit Percentage Government Take 410.0 420.0 430.0 440.0 450.0 460.0 470.0 480.0 Contractor’s Cash Flow (NPV 10%) IRR Govt Take NPV Field C Government Take and Project IRR at Different Cost Recovery Limit Fiscal Model 1 42.0% 44.0% 46.0% 48.0% 50.0% 52.0% 54.0% 56.0% 58.0% 10% 20% 50% 40% 30% 60% 90% 80% 70% 100% 10% 20% 50% 40% 30% 60% 90% 80% 70% 100% 10% 20% 50% 40% 30% 60% 90% 80% 70% 100% 10% 20% 50% 40% 30% 60% 90% 80% 70% 100% Cost Recovery Limit Percentage Government Take 460.0 470.0 480.0 490.0 500.0 510.0 520.0 Contractor’s Cash Flow (NPV 10%) IRR Govt Take NPV
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Fiscal Systems for Hydrocarbons 59 Graph 4. Government Take and Project IRR at Different Levels of Cost Recovery Limit—Field D Note: The combined effect of royalties and cost recovery limit may produce a government take above 100 percent. In these cases, the graphs conventionally show a government take of 101 percent. Field D Government Take and Project IRR at Different Cost Recovery Limit Fiscal Model 3 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% Cost Recovery Limit Percentage Government Take 1,550.0 1,600.0 1,650.0 1,700.0 1,750.0 1,800.0 1,850.0 Contractor’s Cash Flow (NPV 10%) IRR Govt Take NPV Field D Government Take and Project IRR at Different Cost Recovery Limit Fiscal Model 2 0.0% 20.0% 40.0% 60.0% 80.0% 100.0% 120.0% Cost Recovery Limit Percentage Government Take (900.0) (800.0) (700.0) (600.0) (500.0) (400.0) (300.0) (200.0) (100.0) - 100.0 Contractor’s Cash Flow (NPV 10%) IRR Govt Take NPV Field D Government Take and Project IRR at Different Cost Recovery Limit Fiscal Model 1 0.0% 20.0% 40.0% 60.0% 80.0% 100.0% 120.0% 10% 20% 30% 40% 70% 60% 50% 80% 90% 100% 10% 20% 30% 40% 70% 60% 50% 80% 90% 100% 10% 20% 30% 40% 70% 60% 50% 80% 90% 100% 10% 20% 30% 40% 70% 60% 50% 80% 90% 100% Cost Recovery Limit Percentage Government Take (800.0) (600.0) (400.0) (200.0) - 200.0 400.0 600.0 Contractor’s Cash Flow (NPV 10%) IRR Govt Take NPV Field D Government Take and Project IRR at Different Cost Recovery Limit Fiscal Model 4 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% Cost Recovery Limit Percentage Government Take 2,240.0 2,260.0 2,280.0 2,300.0 2,320.0 2,340.0 2,360.0 2,380.0 2,400.0 2,420.0 2,440.0 Contractor’s Cash Flow (NPV 10%) IRR Govt Take NPV
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APPENDIX F Field A, Fiscal Model 1 Alternative Triggers 61
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10.0% 12.5% 15.0% (@ 10%) 10.0% 12.5% 15.0% (@ 10%) 10.0% 12.5% 15.0% (@ 10%) C. Tax 25% C/R Limit 60% C. Tax 25% C/R Limi 60% C. Tax 25% C/R Lim 60% NOC 0% NOC 0% NOC 0% Royalty Royalty Royalty RoR < 20% 10% 3% RoR < 5% 10% 3% RoR < 5% 10% 3% 20% < RoR < 25% 25% 6% 5% < RoR < 25% 25% 6% 5% < RoR < 10% 25% 25% < RoR < 35% 40% 8% 25% < RoR < 45% 40% 8% 10% < RoR < 15% 40% 35% < RoR < 50% 55% 10% 45% < RoR < 65% 55% 10% 15% < RoR < 20% 55% 50% < RoR < 65% 70% 12% 65% < RoR < 85% 70% 12% 20% < RoR < 25% 70% 65% < RoR 85% 14% 85% < RoR 85% 14% 25% < RoR 85% 6% 6% 10% 12% 14% 55.2 40.1 Govt. Take IRR IRR ($ Million) Govt. Take Investor’s NPV ($ Million) 31.2 21.5 28.0% 55.2% 23.8% 74.0% 79.9 59.6 43.3 74.5 52.0% 43.9 Fiscal Model 1 Fiscal Model 1/A Fiscal Model 1/B Investor’s NPV ($ Million) IRR Investor’s NPV Govt.
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  • Winter '14
  • Bijay K Behra
  • host government, fiscal systems, world bank working

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