PNG Oil & Gas Industry Overview

Fiscal Terms Concessional Tax/Royalty system 30% Corporate Income Tax for Oil and Gas Projects → We currently provide some incentives such as GST exemptions → 2% Royalty per wellhead value → 2% Development Levy per wellhead value * Other levies as negotiated and agreed in gas and petroleum agreements. Eg. 2% Production Levy in Papua LNG Project ⚫ Allowable tax deductions for Exploration and Capital Expenditures 10

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