Country report
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12 Pages

Thailand upstream fiscal summary

Thailand upstream fiscal summary

Report summary

Concession-based fiscal system which has had three main variations over time, with the most recent terms known as the ‘Thai III' regime. Thai III terms include royalty, additional profits tax (called the Special Remuneratory Benefit (SRB)) and corporate income tax.  Royalty rates are incremental and based upon production rates, with discounting of rates for deepwater licences.  SRB rates are uniquely based upon annual revenue and the cumulative metres of wells drilled on the concession...

What's included?

This report includes 1 file(s)

  • Thailand upstream fiscal summary PDF - 352.76 KB 12 Pages, 10 Tables, 13 Figures


Volatility in oil markets has led players in the upstream oil and gas industry to focus on reducing capital spend and operating costs. At the same time, governments need to review fiscal terms to maintain attractiveness and investment.

This country report gives an overview of the key fiscal issues for this country. If you’re interested in identifying and assessing upstream investment and expansion opportunities, this upstream fiscal summary report is your definitive commercial guide.

Potential investors, governments and companies in the oil and gas sector can use it to gain a better understanding of the critical issues for development opportunities in this country.

Wood Mackenzie's 500 dedicated analysts are located in the markets they cover. They produce forward-looking analysis at both country and asset level across the globe, backed by our robust proprietary database of trusted research. Proprietary data means a superior level of analysis that is simply not available anywhere else. Wood Mackenzie is the recognised gold standard in commercial data and analysis.

  • Executive summary
  • Current licence, equity and fiscal terms
    • Basis
    • Licence terms
    • Government equity participation
    • Fiscal terms
      • Ring fencing
      • Bonuses, rentals and fees
      • Indirect taxes
      • Royalty
      • Additional petroleum taxes
        • Special Remuneratory Benefit
      • Corporate income tax
      • Product pricing
      • Summary of modelled terms
  • Fiscal stability
    • Recent history of fiscal changes
    • Stability provisions
  • Economic analysis
    • Split of the barrel and share of profit
    • Effective royalty rate and maximum government share
      • Progressivity
      • Fiscal deterrence

In this report there are 23 tables or charts, including:

  • Executive summary
    • Revenue flowchart: Thailand Concession
  • Current licence, equity and fiscal terms
    • Bonuses, rentals and fees
    • Indirect taxes
    • Royalty rates
    • Royalty Rate Oil
    • Royalty Rate Gas
    • Current licence, equity and fiscal terms: Table 4
    • Effective Special Remuneratory Benefit Rate
    • Assumed terms by location - oil and gas
  • Fiscal stability
    • Timeline
    • Timeline details
  • Economic analysis
    • Split of Barrel - oil
    • Split of barrel - gas
    • Share of profit - oil
    • Share of profit - gas
    • Effective royalty rate - onshore/shelf, Oil and gas
    • Effective royalty rate - deepwater, Oil and gas
    • Maximum government share - onshore/shelf, Oil and gas
    • Maximum government share - deepwater, Oil and 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
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