Producing and Exporting Gas: Myanmar Legal and Tax Developments

Myanmar is a country rich in resources and potential which currently has 16 onshore blocks and 19 offshore blocks in production. The offshore Yadana (TOTAL, Chevron and PTTEP) and Yetagun (Petronas, PTTEP) natural gas projects started production in 1998 and 2000 respectively under gas sales contracts to the Thai state oil company PTT.

Highlights

• Government structure
• Legal and regulatory framework
• Myanmar model PSC
• Foreign investment structure
• Foreign ownership restrictions
• Transfer of an interest in a PSC
• Commercial Terms for production and export of gas
• Parent guarantee
• Some legal issues
• Salient tax features of production sharing contracts in Myanmar
• Environmental and social issues
• Exporting gas and the Special Goods Tax