Insight
Thailand's upstream outlook at risk from fiscal reform
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Report summary
Thailand's ability to sustain domestic oil and gas production is in serious doubt. At current production levels, commercial reserves will be exhausted within 9 years. Recent production growth, coupled with a decade of weak exploration, has meant Thailand has replaced less than 25% of the 2.3 billion boe of reserves produced in the last 10 years. We estimate output will fall to 252,000 boe per day in 2024, a 70% decline from current production levels.
Table of contents
- Executive Summary
-
Background
- Thailand's fiscal regime
- Mature province with poor exploration performance
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Key Priorities
- Launch the 21st licencing round and provide clarity on contract extensions
- Keep fiscal terms attractive
- Minimise bureaucratic burden
Tables and charts
This report includes 5 images and tables including:
- Government take increases with gas prices
- Thailand government take < SE Asia average
- Thailand's upstream outlook at risk from fiscal reform: Image 3
- Commercialised reserves
- South-Eastern Asia exploration performance
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