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Brent$104.61Gas TTF$906USD446.56 ₸
MunaiHub
For investors

Project economic model

Enter the production profile, prices and costs — the model instantly calculates revenue, Kazakhstan taxes, cash flow, NPV, IRR and payback.

NPV 10.0%
189.3
$mm · NPV 10% 189.3
IRR
33.8%
Profitability index 1.65
Payback
4.8 years
discounted: 5.7 years
Break-even oil price
47.8 $/bbl
64% of the Brent price
Government take
70.2%
Taxes and payments · 1,250 $mm
Peak funding
77.2 $mm
ROI 7.9×

The example is an illustrative project. Replace the numbers with your own.

Inputs

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Oil production
th.bbl/year
Gas production
mmcm/year
Oil price (Brent)
$/bbl
Gas price
$/th.m³
CAPEX
$mm
Field OPEX
$mm
General & administrative
$mm
Abandonment
$mm
Sales
Transport and losses
Taxes and assets
Technical and valuation
Economic limitProduction stops after the last year with a positive cash flow before income taxes (EBITDA minus CAPEX); costs after that year are dropped, abandonment follows the next year.stop production when it loses money
Tax rules: 2026 Tax Code

Code of 18.07.2025 No. 214-VIII: MET 5–18% (exports at the world price, domestic sales at the refinery price with a 0.5 coefficient), rent tax 0–32%, export duty in $/t equal to the price in $/bbl ($25–105), excess profit tax 10–60% deducting actual CAPEX instead of depreciation and carrying excess deductions forward, income tax losses carried forward 10 years. The 2027 MET matrix is not modelled.

Revenue
2,749 $mm
EBITDA
1,428 $mm
Net cash flow
530 $mm
Maximum NPV
338.6 $mm
in 2030
Oil production
34.6 mmbbl
Peak oil production 10.2 th.bbl/d
NPV 10% per barrel
5.5 $/bbl
Gas production 18.1 bcm

Revenue, costs and taxes

Production profile

Cumulative cash flow

Tax structure

1,250
$mm
  • MET oil147.2 · 12%
  • Export rent tax291.6 · 23%
  • Export duty271.9 · 22%
  • Income tax209.2 · 17%
  • Excess profit tax300.7 · 24%
  • Property tax22.9 · 2%
  • MET gas6.3 · 1%

NPV at different discount rates

Where the revenue goes

  • Transport8.2% · 225
  • Field OPEX12.9% · 355
  • CAPEX14.1% · 388
  • MET5.6% · 154
  • Rent tax and export duty20.5% · 564
  • Property tax0.8% · 23
  • Income and excess profit taxes18.6% · 510
  • Investor's net cash flow19.3% · 530

Costs per barrel, $/bbl

  • OPEX and G&A10.2
  • CAPEX11.2
  • Transport6.5
  • Taxes36.1
  • Net cash flow15.3
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