Second National Reconcilation Study EITI Peru - unofficial…

Consultoría para la Elaboración del Segundo Estudio Nacional de
Conciliación de la Iniciativa de Transparencia para las Industrias
Extractivas (ITIE) en el Perú (2008 – 2010) (continuación)
- Taxpayers: Oil companies in exploitation stages.
- Collection agents: PERUPETRO
- Distributor: DGDFAS - MEF (antes DGAES – MEF), PCM, DGTP – MEF.
1.4. Calculation Base
Oil Royalty
The calculation base for the petroleum royalty varies according to the calculation method. These
methodologies are as follows:
- Factor R – understood as the ratio between accumulated income and accumulated
expenses; it indicates a base percentage that will be used during the company-state
negotiation process. A higher R factor implies a higher base percentage.
- Accumulated production – a percentage is set for the royalty according to the licensing
contract. The royalty will be set in contracts according to two factors: accumulated
production relative to the contracts and the average price per barrel of the production in
question. Similar to the situation described above, this method provides a reference point for
contracts.
- Production scale – associated with the royalty on production levels.
- Economic Result – under this calculation method, the royalty is calculated with two
components: one fixed and the other variable. The fixed royalty is set at 5%. The variable
royalty is applied when the ratio between accumulated income and accumulated expenses
reaches 1.15.
The application of these methodologies is defined in the oil companies’ license and service
contracts. Companies are free to choose the methodology that they believe best suits their blocks
but must maintain the same calculation method until the contract expires.
Oil canon and sobrecanon
The oil canon and sobrecanon are established by specific laws in the different departments that
perceive benefits. Currently, both are determined as follows:
(i) For exploitation activities in the departments of Loreto – Ucayali y Piura – Tumbes, the
calculation is as follows:
Canon: 10% ad - valorem of total oil production in the departments in which exploitation
activities take place.
Sobrecanon: 2.5% of the value of oil production at the department level.
(ii) For exploitation activities in Puerto Inca – Department= of Huánuco, the calculation is as
follows:
Consultoría para la Comisión Multisectorial Permanente de la ITIE Perú
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