Country Report

Malaysia upstream fiscal summary

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28 June 2018

Malaysia upstream fiscal summary

Report summary

All licences are governed by production sharing contracts (PSCs) of four vintages, with two main ones: Post-1985 PSC Model for deepwater areas and Post-1996 R/C (Revenue/Cost index) PSC Model for onshore and shallow water areas. The key fiscal terms of cost recovery ceilings, unused cost oil and profit splits are set prior to each licensing round and are non-biddable items. Export duty, research contribution, supplementary payment and income tax are payable.  Additional income tax allowance is allowed for deepwater areas. 

Table of contents

  • Executive summary
  • Current licence, equity and fiscal terms
  • Basis
  • Licence terms
  • Government equity participation
    • Ring fencing
    • Bonuses, rentals and fees
    • Indirect taxes
    • Royalty
    • PSC cost recovery
      • Onshore and shallow water cost recovery ceiling
    • PSC profit sharing
      • Onshore and shallow water contractor profit share (oil and gas)
      • Deepwater contractor profit share - oil (prior to cumulative production threshold)
    • Additional petroleum taxes
      • Supplementary payment
      • Deepwater supplementary payment rate
      • Export duty
      • Research contribution
    • Corporate income tax
    • Fiscal treatment of decommissioning
    • Product pricing
    • Summary of modelled terms
    • Recent history of fiscal changes
    • Stability provisions
    • Split of the barrel and share of profit
    • Effective royalty rate and maximum government share
    • Progressivity
    • Fiscal deterrence

Tables and charts

This report includes 35 images and tables including:

  • Revenue flowchart: Malaysia PSC
  • Bonuses, rentals and fees
  • Indirect taxes
  • Onshore and shallow water cost recovery ceiling
  • Onshore and shallow water contractor profit share (oil and gas)
  • Depreciation schedule
  • Assumed terms by location - oil and gas
  • Timeline
  • Fiscal stability: Table 1
  • Split of Barrel - oil
  • Split of barrel - gas
  • Share of profit - oil
  • Share of profit - gas
  • Effective royalty rate and minimum state share - onshore/shelf, oil
  • Effective royalty rate and minimum state share - onshore/shelf, gas
  • Effective royalty rate and minimum state share - deepwater, oil
  • Effective royalty rate and minimum state share - deepwater, gas
  • Maximum government share and maximum state share - onshore/shelf, oil
  • Maximum government share and maximum state share - onshore/shelf, gas
  • Maximum government share and maximum state share - deepwater, oil
  • Maximum government share and maximum state share - deepwater, gas
  • State share versus Pre-Share IRR - oil
  • State share versus Pre-Share IRR - gas
  • Investor IRR versus Pre-Share IRR - oil
  • Investor IRR versus Pre-Share IRR - gas
  • Current licence, equity and fiscal terms: Image 1
  • Current licence, equity and fiscal terms: Table 4
  • Onshore and shallow water contractor share of unused cost oil/gas
  • Deepwater cost recovery ceiling
  • Current licence, equity and fiscal terms: Image 3
  • Current licence, equity and fiscal terms: Table 7
  • Deepwater contractor profit share - oil (prior to cumulative production threshold)
  • Deepwater contractor profit share - gas
  • Deepwater supplementary payment rate
  • Current licence, equity and fiscal terms: Image 5

What's included

This report contains:

  • Document

    Malaysia upstream fiscal summary

    PDF 321.75 KB

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