The Adoption of Production Sharing Contracts in Upstream Petroleum Industry in Thailand
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Published:
Jun 30, 2016
Keywords:
กฎหมายปิโตรเลียม สัญญาสำรวจและผลิตปิโตรเลียม สัญญาแบ่งปันผลผลิต สัญญาสัมปทาน
Main Article Content
Abstract
This research disagrees with the government’s policy that has introduced the production sharing contract into upstream petroleum industry in Thailand. The conclusion drawn from the legal analysis of upstream contracts and the cases study of petroleum contractual systems of other jurisdictions indicates that adopting the production sharing contract does not guarantee the host state with the ability to collect extra revenues and gain more regulatory power. Nevertheless, the existing concession contract under the Petroleum Act, B.E. 2514 and the Petroleum Income Tax Act, B.E. 2514, if correctly modified, is still efficient in collecting revenues and regulating upstream petroleum activities. Therefore, by adopting the production sharing contract, Thai government unnecessarily spends its budget on redrafting relevant legislations and also places additional burden upon the upstream petroleum regulators.
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How to Cite
Supapa, Rattapong. “The Adoption of Production Sharing Contracts in Upstream Petroleum Industry in Thailand”. Naresuan University Law Journal 9, no. 1 (June 30, 2016): 227. Accessed November 21, 2024. https://so04.tci-thaijo.org/index.php/lawnujournal/article/view/98709.
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Research Articles
References
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Bayulgen, O. Foreign Investment and Political Regimes: The Oil Sector in Azerbaijan, Russia and Norway. Cambridge: Cambridge University Press, 2010.
Cameron, P. International Energy Investment Law: The Pursuit of Stability. Oxford: Oxford University Press, 2010.
Duval, C., et al. International Petroleum Exploration and Exploitation Agreements: Legal, Economic and Policy Aspects. 2nd ed. New York: Barrows, 2009.
Energy Charter Secretariat. Taxation Along the Oil and Gas Supply Chain: International Pricing Mechanisms for Oil and Gas. Brussels: Energy Charter Secretariat, 2008.
Gordon, G. “Petroleum licensing.” In Oil and Gas Law-Current Practice and Emerging Trends, (2011): 65-109.
Gordon, G., Paterson, J. and Usenmez, E. (eds). 2nd ed. Dundee: Dundee University Press.
Johnston, D. International Petroleum Fiscal System and Production Sharing Contracts. Oklahoma: PennWell, 1994.
Miles, K. The Origins of International Investment Law: Empire, Environment and The Safeguarding of Capital. Cambridge: Cambridge University Press, 2013.
Nakhle, C. Petroleum Taxation: Sharing the Oil Wealth: A Study of Petroleum Taxation Yesterday, Today and Tomorrow. New York: Routledge, 2008.
Nakhle, C. “Petroleum Fiscal Regimes: Evolution and Challenges.” In The Taxation of Petroleum and Minerals: Principles, Problems and Practice, edited by Daniel, P., Keen, M., and McPherson, C., 89-121. New York: Routledge. 2010.
Pereira, E. and Talus, K. Upstream Law and Regulation: A Global Guide. London: Globe Law and Business, 2013.
Schrijver, N. Sovereignty Over Natural Resources: Balancing Rights and Duties. Cambridge: Cambridge University Press, 1997.
Smith, E.E., et al. International Petroleum Transactions. 3rd ed. Colorado: Rocky Mountain Mineral Law Foundation, 2010.
Talus, K., Looper, S. and Otillar, S. “Lex Petrolea and Internationalisation of Petroleum Agreements: Focus on Host Government Contracts.” Journal of World Energy and Business Law. 5, no.3 (July 2012): 181.
Taverne, B. Petroleum, Industry, and Governments: A Study of the Involvement of Industry, and Governments in the Production, and Use of Petroleum. New York: Kluwer Law International, 2008.
United Nations Conference on Trade and Development. World Investment Report: Transnational Corporations, Extractive Industries and Development. Geneva: United Nations Publication, 2007.
Waled, T. “International Energy Investment.” Energy Law Journal. 17, no.1 (1996): 191.
Waltrip, M. J. “The Russian Oil and Gas Industry After Yukos: Outlook for Foreign Investment.” Transnational Law & Contemporary Problems. 17, no.2 (2008): 575.
The ad hoc Committee on the Study of the Petroleum Act, B.E. 2514 and the Petroleum Income Tax Act, B.E. 2514. National Legislative Assembly. The Report from the ad hoc Committee on the Study of the Petroleum act, B.E. 2514 and the Petroleum Income Tax act, B.E. 2514. Bangkok: Bureau of Committee of National Legislative Assembly 3, 2015. [In Thai]
Boramanun, N. Administrative Law. 4th ed. Bangkok: Winyuchon, 2014. [In Thai]