Meta Data
Draft: 
No
Revision of previous policy?: 
No
Draft Year: 
2005
Effective Start Year: 
2005
Scope: 
National
Document Type: 
Decree
Economic Sector: 
Energy
Energy Types: 
Oil
Issued by: 
The Government of the Socialist Republic of Vietnam
Notes: 
Unofficial Source
Overall Summary: 
This Decree promulgates the model contract on sharing of petroleum products.
Governance
Energy management principles: 
Article 3. Based on the specific conditions of each project, the contracting parties may agree on the following contents: 1. Contract term (Article 2.1.1); 2. Minimum work commitment (Article 2.2.2); 3. Allocating oil to recover costs (Article 6.1.2); 4. Distribution of oil profits (Article 6.1.3); 5. Cost recovery gas allocation (Article 6.2.2); 6. Gas profit distribution (Article 6.2.3); 7. Commissions and documentation fees (articles: 9.1, 9.2 and 9.4); 8. Money spent on training (Article 10.1.1); 9. Participation rate of Vietnam Oil and Gas Corporation (Petrovietnam) (Article 12.1.1); 10. Operator (Article 20.4); 11. Appendices to the contract and fill in the open paragraphs with the appropriate data as agreed.
National policy structure: 
Article 1. To promulgate together with this Decree the sample contract of the oil and gas product sharing contract (hereinafter referred to as the model contract). Article 2. The oil and gas product sharing contract must comply with the model contract promulgated together with this Decree. In the case approved by the Prime Minister, the contracting parties may agree not to apply the Model Contract as prescribed in Clause 3, Article 1 of the Law amending and supplementing a number of articles of the Petroleum Law dated 22. June 2000.