418
A. R. Tom
94%
80%
82%
85%
87%
94%
75%
74%
73%
73%
105%
77%
76%
75%
75%
93%
74%
73%
73%
72%
0%
20%
40%
60%
80%
100%
120%
$ 30/bbl
$60/bbl
$90/bbl
$120/bbl
$150/bbl
AETR
Oil Price
Kingfisher & Kaiso Tonya Project - Total Government Revenue at $60/bbl
PSA R-Factor
EA3A 2004
EA1A 2012
EA1 2004
Fig. 13.5 AETR generated by the different fiscal regimes at varying oil prices
from the KF-KT development
13.4.2.5 Neutrality
Figure 13.6 indicates the AETR generated by each regime at zero and
10% discount. In undiscounted terms, the four regimes under evaluation
0%
20%
40%
60%
80%
100%
120%
EA1 2004
EA3A 2004
EA1A 2012
R-Factor
BULIISA PROJECT AETR UNDER DIFFERENT FISCAL TERMS
AETR NPV10
AETR NPV0
MARGINAL
Fig. 13.6 AETR0 and AETR10 for the Buliisa development