The fiscal regimes in North Africa largely reflect the resource potential of each country. Algeria, Egypt, and Libya have large oil and gas resources, production, and potential, and therefore IOCs get less of a share. Each country has a strong national oil company that plays a dominate role in the upstream sector, particularly in Algeria and Libya. Tunisia and Morocco produce smaller volumes, are perceived to have modest potential, and therefore, IOCs get more of a share.

Download full report here.