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QUESTION 2 (30 Marks) An oil company which operates in Malaysia, is a contractor to PETRONAS for an oil field. The production profiles of the field are given in Table 1. The depreciation for CAPEX is 5-years, starts as the production begins. This company wants to gain biggest capital allowance in early stage of the production and all of the oil are exported. Table 1: Production profiles for an oil field Compare and suggest which of the two Malaysian Production Sharing Contract is more profitable to the government, Petronas and the company. (a) Deep water PSC 1993(1000m deep) (15 Marks) (b) Deep water PSC 1997 (>1000 m deep) (15 Marks) QUESTION 2 (30 Marks) An oil company which operates in Malaysia, is a contractor to PETRONAS for an oil field. The production profiles of the field are given in Table 1. The depreciation for CAPEX is 5-years, starts as the production begins. This company wants to gain biggest capital allowance in early stage of the production and all of the oil are exported. Table 1: Production profiles for an oil field Compare and suggest which of the two Malaysian Production Sharing Contract is more profitable to the government, Petronas and the company. (a) Deep water PSC 1993(1000m deep) (15 Marks) (b) Deep water PSC 1997 (>1000 m deep) (15 Marks)