Petroleum fiscal regime analysis : the case of Myanmar offshore exploration and production

Abstract

The study of efficiency of the current Myanmar fiscal regime is in order to provide some recommendation to the Government. Four cases field development and production of Myanmar offshore concessionary blocks were studied by using the Monte Carlo simulation methodology. The base case economic model is identified the level of government take and Internal rate of return and Effective Royalty Rate (ERR) Further more improve fiscal system, Rate of Return Contract system is introduced to the government. As the results and analysis of case studies, in order to have win-win situations between government and contractor, the efficient Myanmar fiscal regime should be considered as improved fiscal system or rate of return contract.