New Software Release

Merak Fiscal Model Library 2018.4 Now Available

Friday, 14 December 2018

Product details

Merak Fiscal Model Library is a world-class collection of standardized fiscal models that supports accurate economic results. The library contains more than 219 models, covering most petroleum-producing countries. These customizable models can be used with the Peep module in Merak planning, risk, and reserves software.

Merak Fiscal Model Library is available through an annual subscription, and custom fiscal model solutions are available through a custom license. The easy installation format enables direct loading to machines with the Peep module in Merak software and any current Merak Fiscal Model Library models and add-ins.

Key features of this release

Updated models

The Merak Fiscal Model Library 2018.4 release includes the following fiscal updates to models:

Australia Extended PRRT (2012)

  • Fixed bug to enable users to select and save the different methods to start base provisions for Petroleum Resource Rent Tax (PRRT) transitional relief.

Canada Alberta Oil Sands RT (2009)

  • Updated model to enable users to set up their abandonment costs and salvage costs after the economic limit of the case. The abandonment and salvage costs also consider the working interest reversions set in the case.

Canada Alberta RT (2009)

  • Updated model to enable users to set up their abandonment costs and salvage costs after the economic limit of the case. The abandonment and salvage costs also consider the working interest reversions set in the case.

Canada Alberta RT (2016)

  • Updated model to enable users to set up their abandonment costs and salvage costs after the economic limit of the case. The abandonment and salvage costs also consider the working interest reversions set in the case.

Canada BC RT (2009)

  • Updated model to enable users to set up their abandonment costs and salvage costs after the economic limit of the case. The abandonment and salvage costs also consider the working interest reversions set in the case.
  • Corrected Net Profit Royalty OCX remnants when the Use Net Profit Royalty option is selected.

Canada Frontier RT (2009)

  • Updated model to enable users to set up their abandonment costs and salvage costs after the economic limit of the case. The abandonment and salvage costs also consider the working interest reversions set in the case.

Canada Saskatchewan RT (2009)

  • Updated model to enable users to set up their abandonment costs and salvage costs after the economic limit of the case. The abandonment and salvage costs also consider the working interest reversions set in the case.

Canada Nova Scotia RT (2009)

  • Updated model to enable users to set up their abandonment costs and salvage costs after the economic limit of the case. The abandonment and salvage costs also consider the working interest reversions set in the case.

Canada NFLD RT (2003)

  • Updated model to enable users to set up their abandonment costs and salvage costs after the economic limit of the case. The abandonment and salvage costs also consider the working interest reversions set in the case.

France RT (2000)

  • Updated model in accordance with the French Finance Bill 2018.
  • The bill regulates the income tax rate to 28% effective on or after 1 January 2018 until 2020; 26.5% effective on or after 1 January 2021; and 25% effective on or after 1 January 2022.

Gabon PSC (1997)

  • Updated model to fix the abandonment fund provision. The fund cash outflow happens over a period from production start, not as a one-time expenditure at the economic limit.

Indonesia PSC (2017)

  • Updated model in accordance with the Indonesian legislation Permen Number 52.
  • Updated variable split components such as Block Status, Availability of Support Infrastructure, H2S Content, and Production Phase rates.
  • Updated progressive split component two and progressive split component three rates per the legislation. Progressive split component one is now dependent on Indonesian crude price.

Indonesia PSC (2008)

  • Updated model to consider variable investment credit oil only once in the variable eligible recovery cost opex oil.
  • Replaced exploration working interest with development working interest in the logic of tangible development oil in the model.

US Model Default

  • Updated model to allow the ad valorem tax credit to be deducted from severance tax for the state of Kansas.
  • Fixed the US model default add-in so that the percent cost (%) rates predefined in the model settings for both severance tax and ad valorem tax do not reset to zero percent when the “use custom column” check box is enabled first and disabled instantly.