Investor Presentaiton
Energy Sector Initiatives
Supplemental Petroleum Tax (SPT)
➤ A key amendment to the current SPT regime with specific reference to:
✓ Small onshore producers
An increase in the production threshold for persons to be considered a small onshore
producer from 2,000 barrels of crude oil per day to 4,000 barrels of crude oil per day, as well
as the repeal of the sunset clause in the tax legislation which restricted the applicability of
such reduced rates of SPT until the end of 2022.
✓ Rates of SPT for New Oil Wells in Shallow Marine Areas
For new oil wells in shallow water marine areas, whether in existing fields or new fields, the
following rates of SPT are proposed:
Oil price (US$)
$0.00-$50.00
$50.00-$70.00
$70.01-$90.00
$90.01 -$200.00
$200.01andover
New Oil Wells
0.00%
15.00%
20.00%
20% 0.2% (P** - US$90)
42.00%
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