Fiscal benchmarking supports the valuation of a single project under various fiscal terms to understand the sole impact of fiscal terms on the asset valuation. All other parameters such as production, cost, prices remain the same. Here are the steps:
Select Fiscal Benchmarking from the Valuation drop down on the left and click 'Start Workflow':
Select an asset that mirrors the project you'd like to benchmark (e.g. a producing, deepwater, giant, conventional oil field such as Marlim Sul in Brazil).
Select the regimes to run the benchmarking under - you can select up to twenty (20) regimes, then click 'Continue'.
đĄ Tip: The regime that the asset currently is in will be automatically included in addition to the selected regimes
Select or change your assumptions (tax marker, price deck, discount rate/date, etc.), then click 'Continue'.
đĄ Tip: The assumptions available for editing are explained in this article
Review the selected settings and click "Run calculation".
Once the valuations have been completed you will see the 'Regime comparison' chart showing metrics including present values, IRR, and government take as well as a comparison table at the bottom for review.
You can also export any of the underlying calc files to better understand the fiscal terms used and make further bespoke modifications.
