A Production Sharing Contract (PSC) fiscal regime with the terms generally based on the PSC system of Malaysia. The rates of royalty, cost recovery and profit oil split are flat, with no sliding scale mechanisms. Export duty is payable on crude not supplied to Malaysian or Thai markets. A supplementary payment on profit oil and research contribution are also payable. There is an eight-year holiday on corporate income tax, followed by a seven-year period of tax at half the normal rate, and full-rate liable thereafter. All terms are fixed and not biddable.