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- W2009270321 abstract "Abstract Three periods in the evolution of petroleum legislation in Thailand are recognized. The period before 1960 is known as the Reservation Period characterized by the exclusive reservation of the right to explore for and produce petroleum in Thailand to state agencies and Thai citizens. During this period only a small amount of heavy crude oil reserves was discovered at Fang Basin, Chiangmai, Northern Thailand. Exploration was discontinued due to a shortage of technology and expertise. This period was followed by the Foreign Enterprise Period from 1960 to 1970 in which the reservation policy was rescinded, and attempts were made to attract foreign investment and technology in petroleum exploration. In lieu of a petroleum act a consideration basis for awarding the right to explore for and produce petroleum in the Gulf of Thailand was officially issued on 21 June 1967. Petroleum agreements were then awarded to a number of international oil companies. The first petroleum registration of Thailand was the Petroleum Act B.E. 2514 (1971) and the Petroleum Income Tax Act B.E. 2514 (1971) of 26 March 1971. These acts provided for a concession system as formerly practiced in the Persian Gulf, offering more incentives to the concessionaires. These acts marked the beginning of the Exploration Period in which drilling has been actively carried out. Up to April 1980, four commercial gas and condensate fields had been discovered in the Gulf of Thailand with total estimated reserves of up to 7 trillion ft3. To accelerate the development of the natural gas deposits some amendments have been made to the Petroleum Income Tax Act B.E. 2514 (1971). From 1981 to the year 2000 the world and Thailand as well will face critical petroleum shortages and higher prices will force every nation to conserve existing resources. Therefore, the concession system will probably be replaced by a production sharing contract system, similar to that of other ASEAN countries. This development will mark the beginning of the Conservation Period." @default.
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- W2009270321 title "Evolution of the petroleum legislation of Thailand: a case history" @default.
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- W2009270321 doi "https://doi.org/10.1016/0360-5442(81)90039-6" @default.
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