A flexible petroleum fiscal regime for Thailand | |
| Author | Tanawin Srisatasuk |
| Call Number | AIT Thesis no.OTM-15-03 |
| Subject(s) | Hydrocarbons--Thailand Petroleum industry and trade--Government ownership--Thailand Petroleum industry and trade--Finance--Thailand |
| Note | A thesis submitted in partial fulf illment of requirements for the degree of Master of Engineering in Offshore Technology and Management, School of Engineering and Technology |
| Publisher | Asian Institute of Technology |
| Series Statement | Thesis ; no. OTM-15-03 |
| Abstract | Nowadays in Thailand, people are discussing about the most suitable sharing system of hydro carbon or Oil and Gas resource for the country among concessionary system, production sharing contract and service contract. It has also be en a phenomenon since a few years ago. However, only a few people concern about “fair share. In this study, the existing fiscal regime (Thai III) has been analyzed and the result shows that Thai III is regressive system in some given conditions. In regress ive system, a few weakness have been found because some components lead the system to create unfair conditions for both government and company. In this study, new model of fiscal regime is created to improve the weakness of the system. The new model is pr ovided with sliding scale by using R - Factor to reflect the real cost and revenue. R - Factor is the ratio between cumulative revenue divided by cumulative cost at the year. It is much more responsive to the changing conditions than fixed scale mechanism. Fin ally, the results of analysis show that new model can provide flexibility and it is “progressive” to all given conditions. However, not only the single value of the output is performed but also uncertainty has to be considered. In this study, oil price, ex change rate, CAPEX, and OPEX would be considered as uncertainty input variables. Monte Carlo Simulation is employed to calculate the probability of government take and NPV by using the appropriate range of value based on available data source. The results state that Thai III has a high chance of uncommercial field because government take is high and it is not in the profit based, on the other hand, new model can provide the field to operate. |
| Year | 2015 |
| Corresponding Series Added Entry | Asian Institute of Technology. Thesis ; no. OTM-15-03 |
| Type | Thesis |
| School | School of Engineering and Technology (SET) |
| Department | Department of Civil and Infrastucture Engineering (DCIE) |
| Academic Program/FoS | Offshore Technology and Management (OTM) |
| Chairperson(s) | Chiu, Gregory L.F. |
| Examination Committee(s) | Thitisak Boonpramote;Boswell, Laurence F.;Pornpong Asavadorndeja |
| Scholarship Donor(s) | Royal Thai Government Fellowship |
| Degree | Thesis (M. Eng.) - Asian Institute of Technology, 2015 |