The Supply of Petroleum Reserves in South-East Asia

I. Introduction.- Background.- Framework for Analysis.- Data and Scope of the Study.- II. Petroleum and Other Energy Forms: Resource Base and Utilization Rates in South-East Asia.- Resource Potentials of the Region.- Demand for Petroleum and Other Energy Resources.- III. Petroleum Exploration: Some Distinguishing Characteristics of and Structural Changes in the Region.- The Supply Function for Petroleum Reserves.- Petroleum Exploration in South-East Asia.- The Indonesian Contractual Framework: A Brief Discussion of Its Development.- IV. The Contractual Framework in Petroleum Exploration and Development in South-East Asia.- General Discussion.- Brunei.- Burma.- Cambodia (Kampuchea).- Indonesia.- Laos.- Malaysia.- Philippines.- Thailand.- Vietnam.- V. The Supply of Reserves:. Implications of Institutional Arrangements.- Fiscal Framework and Exploration Incentives.- ‘Risk’ Trade-offs.- External Factors.- VI. Some Supply Variables and Patterns of Response of Firms.- The Approach.- Success Ratios and Drilling Rates.- Drilling Rates and Price Changes.- Discovery Size and Drilling Rates.- The Supply Variables Estimated.- Interpretation of the Results.- VII. Conclusions and Implications.- The Institutional Setting and the Firm.- State Ownership and Attenuation of Rights.- Type of Firms and Social Optimization.- The Crucial Supply Variables and Allocative Implications.- Other Allocative and Policy Implications.- Concluding Comments.- Appendixes.- A Glossary of Terms in the Petroleum Industry.- B Parts of a Production-sharing Contract.- C Foreign Tax Credit, Indonesia; Oil and Gas Production-sharing Contracts.- D Total Gross Investment Outlays for Oil and Gas Exploration, Development and Production in the Asian Area Relative to Total Wells Drilled, 1970–1977.- E Java SeaInvestments, 1972.- F Average Exploratory Well and Depth Cost in the United States, 1956–1975.