Title: The fiscal provisions on existing legal frameworks governing the oil sector in the Republic of South Sudan
Authors: Isaac Yak Tutdel; Zhen Wang; Abimelech Paye Gbatu
Addresses: Academy of Chinese Energy Strategy, China University of Petroleum, 18 Fuxue Road, Changping, Beijing 102249, China ' Academy of Energy Strategy, China University of Petroleum, 18 Fuxue Road, Changping, Beijing 102249, China ' Academy of Chinese Energy Strategy, China University of Petroleum, 18 Fuxue Road, Changping, Beijing 102249, China
Abstract: The Republic of South Sudan (RSS) is endowed with vast oil resources that are being produced by foreign oil companies (FOCs). However, it has been observed that the existing PSC contains some provisions that are inconsistent with international best practices. This paper explores, extracts and analyses the fiscal provisions in the existing legal framework of the PSCs that governs the oil sector in the RSS. All the appropriate legal regimes governing post-petroleum sector in South Sudan have been revisited and their fiscal provisions have been analysed. After reviewing the legal texts of the Transitional Constitution, the Petroleum Act, the exploration and production sharing agreements (EPSAs), the transitional agreements (TAs) and other relevant documents attached to the petroleum sector, the paper identifies some shortcomings of the PSCs such as lack of royalty and taxes. Henceforth, the paper provides policy recommendations for the institutional management of the petroleum sector in the RSS.
Keywords: fiscal provisions; legal framework; IOCs; international oil companies; PSCs; production sharing contracts; South Sudan.
International Journal of Revenue Management, 2017 Vol.10 No.1, pp.1 - 14
Available online: 08 May 2017 *Full-text access for editors Access for subscribers Free access Comment on this article