Togo

Investment & Operational Criteria

Key Indicators
‍

Risk Premia
‍

3.438

Outlook
‍

Positive

Rating
‍

CC|3H|+

Ranking
‍

Reserves (1P)
‍

Total
‍

mm boe

Oil
‍

Summary

Togo's limited O&G involvement has been relatively undisturbed, but the 2025 constitutional change allowing Faure Gnassingbé to stay in power without term limits, the protests that followed and jihadist attacks in the north have raised political risk. Outlook amended from Positive because constitutional change and northern insecurity have raised political risk. Outlook: Neutral. Risk premia unchanged at 3.438%.

Updated

October 7, 2026

Country Basics

Region

Africa - West

Reserves (1P)
‍

Oil
‍

mm bbl

Gas
‍

bcf

Location

Western Africa, bordering the Bight of Benin, between Benin and Ghana.

Outline

Tax Regime
Type

PSC/PSA

Tax Regime
Notes

Simple Production Sharing Contract ("PSC")-based fiscal regime. Royalty rates are reduced for deep-water (>200m water depth) operations. Cost recovery rates are negotiable, whilst profit oil is split between contractor and government on a sliding scale linked to production rates. The contractors' liability for income tax is paid on its behalf from the government share of profit oil. A range of small bonuses, rentals and fees are payable.

Investment &
Operational
Climate

President Faure Gnassingbé became President of the Council of Ministers under a new parliamentary constitution in 2025, allowing him to stay in power without term limits and triggering protests. US and UK guidance cite the Lomé port and logistics hub, but note governance concerns and jihadist attacks in the north. There are no hydrocarbon resources; Togo imports power and gas via the West African Gas Pipeline.

Source: ESRI, Heritage Index, HMG Foreign & Commonwealth Office, US Department of State, International Trade Administration, International Law Review, Ernst & Young, Wood Makenzie & OGA data.