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Last checked at 
9 Jun 2023 07:00
Gran Tierra Energy Inc.
Report on payments to governments for the year 2022
Introduction
Gran Tierra Energy Inc. ("Gran Tierra") has prepared the following report that sets out details of the payments made to governments for the year ended 31 December 2022 in accordance with the Reports on Payments to Governments Regulations 2014 (2014/3209) as amended by the Reports on Payments to Governments (Amendment) Regulations 2015 (2015/1928) and The Disclosure and Transparency Rule ("DTR 4.3A") issued by the Financial Conduct Authority.
This report is available for download from: https://www.grantierra.com/investor-relations/us-uk-regulatory-news#2023
Basis of preparation
The payments disclosed, which are on a cash basis in U.S Dollars, are based on where the obligation for the payment arose (i.e. at a project or corporate level). Where a payment or a series of related payments do not exceed £86,000, they are not required to be disclosed under the UK Regulations, however this has been disclosed in aggregate at a corporate level for clarity over obligations.
All of the payments disclosed in accordance with the Directive have been made to National Governments of Colombia and Ecuador, either directly or through a Ministry or Department of the National Government and to Local Community Councils or municipalities in Colombia.
Taxes
This represents cash tax calculated on the basis of profits including income or capital gains. Income taxes are usually reflected in corporate income tax returns. The cash payment of income taxes occurs in the year in which the tax has arisen or up to one year later. Income taxes also include any cash tax rebates received from the Government or revenue authority during the year and excludes fines and penalties.
Royalties
This represents cash and in-kind royalties paid to Governments during the year for the extraction of oil or gas. The terms of the royalties are described within Gran Tierra's 2022 Annual Report filed on from 10-K.
Fees
This represents supervision, licensing, permits, project assessment fees and other levies or consideration related to Gran Tierra's exploration and production contracts or to the overall management of our business.
Production Entitlements
In Ecuador, instead of royalties, all production is placed into a profit-sharing pool that is split between the Company and the government of Ecuador. These payments represent the portion of production entitlement by the government of Ecuador. The terms of production sharing in Ecuador are described within Gran Tierra's 2022 Annual Report filed on from 10-K.
Bonuses
This represents social investment program payments to the local communities or municipalities in Colombia.
Disclosure by Payee
Country | Payee Name | Departments, Agency, etc… within Payee that Received Payments | Taxes | Royalties | Fees | Production Entitlements | Bonuses | Dividends | Infrastructure Improvement Payments | Total Amount paid to Payee | Notes |
Colombia
| NATIONAL GOVERNMENT OF COLOMBIA | NATIONAL HYDROCARBON AGENCY OF COLOMBIA | - | 202,248,843 | - | - | - | - | - | 202,248,843 | Paid in Colombian Pesos. Translated at the 2022 average foreign exchange rate of 4,255:1 USD |
Colombia | NATIONAL GOVERNMENT OF COLOMBIA | DIRECTORATE OF NATIONAL TAXES AND CUSTOMS OF COLOMBIA | 36,433,340 | - | - | - | - | - | - | 36,433,340 | Paid in Colombian Pesos. Translated at the 2022 average foreign exchange rate of 4,255:1 USD |
Colombia | NATIONAL GOVERNMENT OF COLOMBIA | - | - | 786,119 | - | - | - | - | 786,119 | Paid in Colombian Pesos. Translated at the 2022 average foreign exchange rate of 4,255:1 USD | |
Colombia | MUNICIPALITY OF PUERTO ASIS | 493,493 | - | - | - | 15,495 | - | - | 508,988 | Paid in Colombian Pesos. Translated at the 2022 average foreign exchange rate of 4,255:1 USD | |
Colombia | MUNICIPALITY OF VILLAGARZON | 245,594 | - | - | - | 55,532 | - | - | 301,126 | Paid in Colombian Pesos. Translated at the 2022 average foreign exchange rate of 4,255:1 USD | |
Colombia | MUNICIPALITY OF MOCOA | 269,070 | - | 9,893 | - | 20,448 | - | - | 299,411 | Paid in Colombian Pesos. Translated at the 2022 average foreign exchange rate of 4,255:1 USD | |
Colombia | INDIGENOUS COMMUNITY OF CABILDO AWA | - | - | - | - | 259,770 | - | - | 259,770 | Paid in Colombian Pesos. Translated at the 2022 average foreign exchange rate of 4,255:1 USD | |
Colombia | INDIGENOUS COMMUNITY OF RESGUARDO INGA WASIPUNGO | - | - | - | - | 139,284 | - | - | 139,284 | Paid in Colombian Pesos. Translated at the 2022 average foreign exchange rate of 4,255:1 USD | |
Colombia | DISTRICT OF BOGOTA | 92,143 | - | - | - | - | - | - | 92,143 | Paid in Colombian Pesos. Translated at the 2022 average foreign exchange rate of 4,255:1 USD | |
Colombia | MUNICIPALITY OF RIO DE ORO | 90,472 | - | - | - | - | - | - | 90,472 | Paid in Colombian Pesos. Translated at the 2022 average foreign exchange rate of 4,255:1 USD | |
Ecuador | GOVERNMENT OF ECUADOR | AGENCY OF REGULATION AND CONTROL OF HYDROCARBONSRESOURCES OF ECUADOR | - | - | - | 1,819,743 | - | - | - | 1,819,743 | Paid in USD |
Ecuador | GOVERNMENT OF ECUADOR | MINISTRY OF ENERGY AND NON-RENEWABLE NATURAL RESOURCES OF ECUADOR | - | - | 357,000 | - | - | - | - | 357,000 | Paid in USD |
Ecuador | GOVERNMENT OF ECUADOR | THE INSTITUTE FOR THE PROMOTION OF HUMAN TALENT | - | - | 300,000 | - | - | - | - | 300,000 | Paid in USD |
United States of America | STATE OF DELAWARE | DELAWARE SECRETARY OF STATE | 250,158 | - | - | - | - | - | - | 250,158 | Paid in USD |
Disclosure by Project
Country | Project Name | Taxes | Royalties | Fees | Production Entitlements | Bonuses | Dividends | Infrastructure Improvement Payments | Total Amount paid by Project | Notes |
Colombia | ENTITY WIDE | 37,624,112 | - | 138,909 | - | - | - | - | 37,763,021 | Paid in Colombian Pesos. Translated at the 2022 average foreign exchange rate of 4,255:1 USD |
Colombia | MIDDLE MAGDALENA BASIN | - | 125,681,798 | 228,363 | - | - | - | - | 125,910,161 | Paid in Colombian Pesos. Translated at the 2022 average foreign exchange rate of 4,255:1 USD |
Colombia | PUTUMAYO BASIN | - | 75,813,017 | 318,078 | - | 490,529 | - | - | 76,621,624 | . Paid in Colombian Pesos. Translated at the 2022 average foreign exchange rate of 4,255:1 USD |
Colombia | LLANOS BASIN | - | 754,028 | 85,873 | - | - | - | - | 839,901 | Paid in Colombian Pesos. Translated at the 2022 average foreign exchange rate of 4,255:1 USD |
Colombia | LOWER MAGDALENA BASIN | - | - | 24,789 | - | - | - | - | 24,789 | Paid in Colombian Pesos. Translated at the 2022 average foreign exchange rate of 4,255:1 USD |
Ecuador | ORIENTE BASIN | - | - | 657,000 | 1,819,743 | - | - | - | 2,476,743 | Paid in USD |
United States of America | ENTITY WIDE | 250,158 | - | - | - | - | - | - | 250,158 | Paid in USD |
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