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Malaysia/Thailand JDA upstream fiscal summary

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28 June 2018

Malaysia/Thailand JDA upstream fiscal summary

Report summary

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.

Table of contents

  • Executive summary
    • Basis
    • Licence terms
    • Government equity participation
    • Fiscal terms
      • Ring fencing
      • Bonuses, rentals and fees
      • Indirect taxes
      • Royalty
      • Export duty
      • PSC cost recovery
      • PSC profit sharing
      • Additional petroleum taxes
        • Supplementary payment
        • 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 16 images and tables including:

  • Revenue flowchart: MTJDA PSC
  • Split of Barrel - oil
  • Split of barrel - gas
  • Share of profit - oil
  • Share of profit - gas
  • Effective royalty rate and minimum state share - oil
  • Economic analysis: Table 2
  • Maximum government share and maximum state share - oil
  • Maximum government share and maximum state share - 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
  • Bonuses, rentals and fees
  • Indirect taxes
  • Assumed terms by location - oil and gas

What's included

This report contains:

  • Document

    Malaysia/Thailand JDA upstream fiscal summary

    PDF 251.39 KB

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