Country Report

Myanmar upstream fiscal summary

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28 June 2018

Myanmar upstream fiscal summary

Report summary

Production Sharing Contract (PSC) fiscal regime, with licence terms varying by vintage and with incentives for deepwater exploration.  Royalty is fixed across all sectors, whereas cost recovery ceilings increase from onshore to shallow offshore to deepwater.  Profit oil splits are negotiable based on tiered daily production rates specified during the application process.  Corporate income tax, and a range of bonuses, rentals and fees are payable; in addition there is a small domestic market...

Table of contents

  • Executive summary
    • Basis
    • Licence terms
    • Government equity participation
    • Fiscal terms
      • Ring fencing
      • Bonuses, rentals and fees
      • Indirect taxes
      • Royalty
      • PSC cost recovery
      • PSC profit sharing
      • Additional petroleum taxes
        • Domestic supply obligation (DSO)
        • Research contribution
      • Corporate income tax
      • 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
      • State share versus Pre-Share IRR - gas
    • Fiscal deterrence

Tables and charts

This report includes 27 images and tables including:

  • Revenue flowchart: Myanmar PSC
  • Timeline
  • Timeline details
  • Split of Barrel - oil
  • Split of barrel - gas
  • Share of profit - oil
  • Share of profit - gas
  • Effective royalty rate - onshore, oil
  • Effective royalty rate - onshore, gas
  • Effective royalty rate - shelf and deepwater, oil
  • Effective royalty rate - shelf , gas
  • Effective royalty rate - deepwater, gas
  • Maximum government share - onshore/deepwater, oil
  • Maximum government share - shelf, oil
  • Maximum government share - onshore/shelf/deepwater, oil
  • State share versus Pre-Share IRR - oil
  • Investor IRR versus Pre-Share IRR - oil
  • Investor IRR versus Pre-Share IRR - gas
  • Bonuses, rentals and fees
  • Indirect taxes
  • Profit sharing - Oil
  • Current licence, equity and fiscal terms: Table 4
  • Profit sharing - Gas
  • Contractor Profit Share Oil - Shelf
  • Contractor Profit Share Gas - Shelf
  • Assumed terms by location - oil and gas
  • Economic analysis: Image 6

What's included

This report contains:

  • Document

    Myanmar upstream fiscal summary

    PDF 285.56 KB