Country Report

Thailand upstream fiscal summary

Get this report

$1,650

You can pay by card or invoice

Contact us

Submit your details to receive further information about this report.

For details on how your data is used and stored, see our Privacy Notice.
 

- FAQ's about online orders
- Find out more about subscriptions

15 July 2019

Thailand upstream fiscal summary

Report summary

The fiscal regime in Thailand is governed by Concession and Production Sharing Contract (PSC) terms. Future licences and licence extensions will be taxed under Thai III (post-20th round) terms, PSCs and service contracts, depending on the amount of initial reserves and the location of the block. Under Concession terms, royalty rates range from 5-15% and are based on a sliding scale linked to production, with a discount applied to deepwater licences. The Special Remuneratory Benefit (SRB) is a tax with a unique calculation method. Its rates are based on the annual revenue and the cumulative metres of wells drilled in the concession area, with an adjustment for geological complexity. Corporate income tax of 50% is payable on profits. Under PSC terms, royalty is payable at 10% of gross revenue and cost recovery ceiling is set to 50%. Government profit share is biddable, with a minimum of 50%. Corporate income tax of 20% is also payable on profits.

Table of contents

  • Basis
  • Licence terms
    • Concession
    • PSC
    • Bonuses, rentals and fees
    • Indirect taxes
    • Royalty
    • Ring fencing
    • Base
    • Rate (concession)
    • Rate (PSC)
    • Payment schedule
    • PSC production sharing
    • Ring fencing
    • PSC cost recovery
    • Base
    • Rate (cost recovery ceiling)
    • Recoverable costs
    • Unrecovered costs
    • Excess cost recovery
    • PSC profit sharing
    • Base
    • Rate
    • Payment schedule
    • Special remuneratory benefit (concession)
    • Ring fencing
    • Base
    • Rate
    • Payment schedule
    • Corporate income tax
    • Ring fencing
    • Base
    • Rate (concession)
    • Rate (PSC)
    • Payment schedule
    • Fiscal treatment of decommissioning
    • Product pricing
    • Liquids pricing
    • Natural gas pricing
    • Summary of modelled terms
  • Recent history of fiscal changes
  • Stability provisions
    • Concession
    • PSC
    • Concession
    • PSC
    • Concession
    • PSC
    • Concession
    • PSC
    • Concession
    • PSC

Tables and charts

This report includes 33 images and tables including:

  • Timeline
  • Timeline details
  • Bonuses, rentals and fees
  • Indirect taxes
  • Royalty rates - concession
  • Royalty rates (oil) - concession
  • Royalty rates (gas) - concession
  • SRB rates (concession)
  • SRB rates (concession)
  • Assumed terms by location - concession
  • Assumed terms by location - PSC
  • Split of Barrel - oil
  • Share of profit - oil
  • Split of barrel - gas
  • Share of profit - gas
  • Split of Barrel - oil
  • Share of profit - oil
  • Split of barrel - gas
  • Share of profit - gas
  • Effective royalty rate and minimum state share - onshore/shelf, oil and gas
  • Effective royalty rate and minimum state share - deepwater, oil and gas
  • Effective royalty rate and minimum state share - shelf, oil and gas
  • Maximum government share and maximum state share - onshore/shelf, oil and gas
  • Maximum government share and maximum state share - deepwater, oil and gas
  • Maximum government share and maximum state share - shelf, oil and gas
  • State share versus Pre-Share IRR - oil
  • State share versus Pre-Share IRR - 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
  • Investor IRR versus Pre-Share IRR - oil
  • Investor IRR versus Pre-Share IRR - gas

What's included

This report contains:

  • Document

    Thailand upstream fiscal summary

    PDF 1.05 MB

Trusted by leading organisations