Thailand Upstream Fiscal and Regulatory Report - New Legislation and Licensing Opportunities Subject to Uncertainty


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Thailand Upstream Fiscal and Regulatory Report - New Legislation and Licensing Opportunities Subject to Uncertainty

Summary

Thailand Upstream Fiscal and Regulatory Report - New Legislation and Licensing Opportunities Subject to Uncertainty, presents the essential information relating to the terms which govern investment into Thailands upstream oil and gas sector. The report sets out in detail the contractual framework under which firms must operate in the industry, clearly defining factors affecting profitability and quantifying the states take from hydrocarbon production. Considering political, economic and industry specific variables, the report also analyses future trends for Thailands upstream oil and gas investment climate.

Scope

- Overview of current fiscal terms governing upstream oil and gas operations in Thailand
- Assessment of the current fiscal regimes state take and attractiveness to investors
- Charts illustrating the regime structure, and legal and institutional frameworks
- Detail on legal framework and governing bodies administering the industry
- Levels of upfront payments and taxation applicable to oil and gas production
- Information on application of fiscal and regulatory terms to specific licenses
- Outlook on future of fiscal and regulatory terms in Thailand

Reasons to buy

- Understand the complex regulations and contractual requirements applicable to Thailands upstream oil and gas sector
- Evaluate factors determining profit levels in the industry
- Identify potential regulatory issues facing investors in the countrys upstream sector
- Utilize considered insight on future trends to inform decision-making
1 Table of Contents
1 Table of Contents 1
1.1 List of Tables 3
1.2 List of Figures 3
2 Regime Overview 4
3 State Take Assessment 6
4 Key Fiscal Terms 8
4.1 Royalty 8
4.1.1 Thailand III 8
4.1.2 Thailand I & II 8
4.2 Surface Reservation Fee 9
4.3 Special Advantages 9
4.3.1 Signature Bonus 9
4.3.2 Production Bonus 9
4.3.3 Additional Payments 9
4.4 Annual Benefits and Bonus (Thailand II Only) 10
4.5 Special Remuneratory Benefit (Thailand III Only) 10
4.6 Direct Taxation 11
4.6.1 Petroleum Income Tax 11
4.6.2 Deductions and Depreciation 12
4.6.3 Withholding Tax 12
4.7 Indirect Taxation 12
4.7.1 Value Added Tax 12
4.7.2 Excise Tax 12
4.7.3 Stamp Duty 12
4.8 Local Participation 12
5 Regulation and Licensing 13
5.1 Legal Framework 13
5.1.1 Governing Law 13
5.1.2 Contract Type 14
5.1.3 Title to Hydrocarbons 14
5.2 Institutional Framework 14
5.2.1 Licensing Authority 14
5.2.2 Regulatory Agency 14
5.2.3 National Oil Company 15
5.3 Licensing Process 15
5.3.1 Licensing Rounds 15
5.3.2 Prequalification 15
5.3.3 Bidding 15
5.4 License Terms 15
5.4.1 Duration and Relinquishments 15
5.4.2 Obligations 16
5.5 Local Content 16
5.6 Gas Utilization 16
6 Outlook 17
7 Contact Information 19

1.1 List of Tables
Table 1: Summary 4
Table 2: Thailand III, Royalty Rate (%), 2016 8
Table 3: Thailand II, Annual Bonus Rates (%), 1982 10
Table 4: Thailand III, Special Remuneratory Benefit Rate, 2016 10
Table 5: Thailand III, Geological Constant (m), 21st Round 11

1.2 List of Figures
Figure 1: Regime Flow Chart 5
Figure 2: Thailand, Indicative NPV10/boe, IRR and State Take Comparison - Internal, 2016 6
Figure 3: Thailand, Indicative NPV10/boe, IRR and State Take Comparison - Regional Peers, 2016 7
Figure 4: Legal Framework 13
Figure 5: Institutional Framework 14