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NATIONAL
ASSEMBLY
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SOCIALIST
REPUBLIC OF VIET NAM
Independence - Freedom – Happiness
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No.
10/2008/QH12
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Hanoi,
June 03rd, 2008
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LAW
AMENDING AND SUPPLEMENTING A NUMBER OF
ARTICLES OF THE PETROLEUM LAW
Pursuant to the 1992
Constitution of the Socialist Republic of Vietnam, which was amended and
supplemented under Resolution No. 51/2001/QH10;
The National Assembly promulgates the Law Amending and Supplementing a
Number of Articles of 1993 the Petroleum Law, which was amended and
supplemented under Law No. 19/ 2000/QH10 Amending and Supplementing a Number of
Articles of the Petroleum Law.
Article 1.- To amend and
supplement a number of articles of the Petroleum Law:
1. To amend and supplement
Clause 1, Article 3 as follows:
"1. Oil and gas comprise
crude oil, natural gas and natural hydrocarbon in the gaseous, liquid, solid or
semi-solid form, including coal gas, sulfur and similar substances associated
with hydrocarbon, but excluding coal, shale, bitumen or other minerals from
which oil can be extracted."
2. To amend and supplement
Clause 12, Article 3 as follows:
"12. Encouraged oil and gas
investment project means a project which carries out oil and gas activities in
deep water and offshore areas, areas with especially difficult geographical
conditions and complicated geological conditions and other areas on the list of
lots decided by the Prime Minister; or a project on coal gas exploration,
prospecting and exploitation."
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"13. Coal gas means
hydrocarbon whose main element is methane in the gaseous or liquid form,
contained in coal seams or other adjacent seams."
4. To supplement Clause 14,
Article 3 as follows:
"14. Fixed work means a
work which is built or installed permanently for use in oil and gas
activities."
5. To supplement Clause 15,
Article 3 as follows:
"15. Equipment means a
complex of mechanic, electric, electronic and other components which is
installed and used for oil and gas activities."
6. To amend and supplement
Article 8 as follows:
"Article 8.-
The area for exploration and
prospecting under an oil and gas contract shall be determined based on the lots
decided by the Prime Minister.”
7. To amend and supplement
Article 13 as follows:
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In the course of carrying out
oil and gas activities, after completing a work step, a work phase or an entire
oil and gas contract, organizations and individuals carrying out oil and gas
activities shall clear up fixed works, equipment and means for oil and gas
activities no longer in use and restore the environment according to law."
8. To amend and supplement
Article 14 as follows:
"Article 14.-
Vietnam Oil and Gas Group is the
international transaction name of Tap doan Dau khi Viet Nam - Cong ty me,
referred to as PetroVietnam and abbreviated to PVN. Vietnam Oil and Gas Group
is a state company which may carry out oil and gas activities and conclude oil
and gas contracts with organizations and individuals carrying out oil and gas
activities according to law."
9. To amend and supplement
Article 17 as follows:
"Article 17.-
1. The term of an oil and gas
contract must not exceed twenty five years, of which the exploration and
prospecting period must not exceed five years.
For encouraged oil and gas
investment projects and projects on natural gas exploration, prospecting and
exploitation, the term of an oil and gas contract must not exceed thirty years,
of which the exploration and prospecting period must not exceed seven years.
2. The term of an oil and gas
contract may be extended, but for no more than five years; the term of the
exploration and prospecting period may be extended but for no more than two
years.
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3. A contractor, who has
announced a commercial discovery, but has neither found sale outlets nor had
suitable pipelines and processing equipment may retain its discovered gas area.
The time limit for retaining such area is five years and may be extended for
two subsequent years in special cases. Pending the time to find out sale
outlets and secure suitable pipelines and processing equipment the contractor
shall perform its jobs as committed under the oil and gas contract.
4. In force majeure
circumstances or other special cases, parties to an oil and gas contract may
negotiate to suspend the execution of a number of rights and obligations under
the contract. The suspension caused by force majeure events may last until the
force majeure event ends. The suspension time limit in other special cases
shall be decided by the Prime Minister, but must not exceed three years.
5. The extended time of the
exploration and prospecting period, the period of retaining the discovered gas
area which has been announced commercially viable, and the period of suspending
the execution of a number of rights and obligations under an oil and gas
contract in force majeure cases or other special cases is not included in the
term of an oil and gas contract.
6. An oil and gas contract may
terminate ahead of its term provided that the contractor must complete its
committed obligations and such termination is agreed upon by the contractual
parties.
7. The Government shall
prescribe conditions for suspending the execution of a number of rights and
obligations under an oil and gas contract in special cases; and conditions and
procedures for extending exploration and prospecting period or the term of an
oil and gas contract."
10. To amend and supplement
Article 23 as follows:
"Article 23.-
An oil and gas contract must be
approved by the Prime Minister and takes effect as prescribed in the investment
certificate."
11. To amend and supplement
Article 24 as follows:
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1. The transfer of part or whole
of an oil and gas contract by the contractual parties must satisfy the
following conditions.
a/ The transferee undertakes to
implement contents of the oil and gas contract concluded by the transferor,
b/To satisfy the conditions on
transfer of capital and projects according to the investment law.
The transfer of part or whole of
an oil and gas contract must be approved by the Prime Minister and takes effect
as prescribed in the modified investment certificate.
2. Vietnam Oil and Gas Group has
the preemptive right to buy part or whole of an oil and gas contract to be
transferred.
3. The transferor shall pay
taxes and fees according to the law on taxes, fees and charges."
12. To amend and supplement
Article 26 as follows:
"Article 26.-
Contractors may conclude oil and
gas service contracts, but must give priority to Vietnamese organizations and
individuals in concluding these contracts.
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Vietnam shall take
responsibility for providing flight operation services on its own or conclude
joint venture contracts with foreign parties to provide flight operation
services for oil and gas activities."
13. To amend and supplement
Point e, Clause 1, Article 28 as follows:
"e/ To be exempted from
import and export taxes under the Law on Import tax and Export Tax."
14. To amend and supplement
Point g, Clause 1 Article 28 as follows:
"g/ To export its oil and
gas share as agreed in the oil and gas; contract without having to apply for an
export permit, except the case specified in Clause 9, Article 30 of this
Law."
15. To amend and supplement
Article 29 as follows:
"Article 29.-
Subcontractors enjoy the rights
specified at Points a, c and e, Clause 1, Article 28 of this Law.
A subcontractor that is a
foreign organization or individual may transfer abroad expenses recovered and
profits earned from its oil and gas service operations."
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"9. At the Government's
request, to sell on the Vietnamese market:
a/ Natural gas under its
ownership on basis of agreements under gas exploitation and development
projects;
b/ Crude oil under its ownership
at internationally competitive prices."
17. To amend and supplement
Article 32 as follows:
''Article 32.-
1. Organizations and individuals
carrying out oil and gas activities, foreigners and Vietnamese working for oil
and gas contractors, oil and gas joint venture enterprises and subcontractors
shall pay taxes according to the tax law.
2. A reasonable part of Vietnam
Oil and Gas Group's post-enterprise income tax revenues from its oil and gas
activities shall be allocated from the state budget to the Group for investment
in the development of oil and gas projects according to law."
18. To amend and supplement
Article 38 as follows:
''Article 38.-
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2. The Ministry of Industry and
Trade shall take responsibility before the Government for its state management
of oil and gas activities prescribed below:
a/ To promulgate according to
its, competence or submit to competent state agencies for promulgation legal
documents, strategies, master plans and plans on development of the oil and gas
industry;
b/ To assume the prime
responsibility for submitting to the Prime Minister for approval oil and gas
contracts and oil and gas investment projects according to the investment law,
reporting on reserves, overall plans and plans on field development, results of
oil and gas lot and contract biddings and foreign cooperation schemes for oil
and gas activities in overlapping areas with foreign countries, extending the
oil and gas exploration and prospecting periods or the terms of oil and gas
contracts, and the time of suspension of oil and gas contracts in force majeure
cirumstances and special cases;
c/To organize the formulation
of, and submit to the Prime Minister for promulgation, lists of lots and
divisions and adjustments of lot limits;
d/ To review, monitor and report
on the development and results on exploration, prospecting, exploitation and
domestic sale and export of oil and gas;
e/ To approve programs and plans
on early exploitation in areas under contract; to approve plans on and examine
and handle violations in the clearing up of fixed works, equipment and means
for oil and gas activities no longer in use and the environmental restoration
according to law;
f/ To permit the burning of
associated gas; withdraw fields if contractors fail to develop fields and
exploit oil and gas according to schedules under approved field development
plans;
g/ To manage the training,
retraining and development of human resources for oil and gas activities; to
formulate appropriate mechanisms and policies to attract human resources for
oil and gas activities;
h/To carry out international
cooperation on oil and gas;
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j/ To examine, inspect, handle
violations and settle complaints and denunciations about, oil and gas
activities;
k/ To perform other tasks
regarding the state management of oil and gas activities according to law.
3. Ministries and
ministerial-level agencies shall, within the ambit of their tasks and powers,
perform the state management of oil and gas activities according to law.
4. People's Committees of
provinces and centrally run cities shall, within the ambit of their tasks and
powers, perform the state management of oil and gas activities in their localities
according to law."
19. To replace the phrase
"Vietnam Oil and Gas Corporation" with the phrase "Vietnam Oil
and Gas Group" in Clause 5, Article 3; Clause 9, Article 15; Articles 20, 21,
22 and 25; and Clause 6, Article 30 of the 1993 Petroleum Law, which was
amended and supplemented under Law No. 19/2000/QH10 Amending and Supplementing
a Number of Articles of the Petroleum Law.
20. To annul Articles 33,
34, 35, 36, 37 and 39 of the 1993 Petroleum Law, which was amended and
supplemented under Law No. 19/2000/QII10 Amending and Supplementing a Number of
Articles of the Petroleum Law.
Article 2.- This Law takes
effect on January 1, 2009.
This Law was passed on June 03,
2008, by the XIIth National Assembly of the Socialist Republic of
Vietnam at its 3rd session.
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CHAIRMAN
OF THE NATIONAL ASSEMBLY
Nguyen Phu Trong