The Generic Offshore Royalty Regime Regulations were promulgated on November 1, 2017.

The Generic Offshore Royalty Regime is based on project cost recovery and profitability with progressive royalty rates linked to the ratio of cumulative revenue over cumulative project costs, referred to as the R-factor.

This royalty regime applies to future developments, providing exploration and production companies with certainty, stability, reduced complexity and transparency on fiscal terms.

Generic Offshore Oil Royalty Regime 2017 (80 KB)

For detailed information on existing offshore projects view Offshore Projects.