Vietnam's Petroleum Sector : Technical Assistance for the Revision of the Existing Legal and Regulatory Framework
The oil and gas potential of Vietnam's continental shelf remains relatively unexplored compared with that of its neighbors, including China, Indonesia, Malaysia, and Thailand. A number of factors affect the decision to undertake petroleum...
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| Format: | ESMAP Paper |
| Language: | English en_US |
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Washington, DC
2014
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| Online Access: | http://documents.worldbank.org/curated/en/2003/12/3032246/vietnam-petroleum-sector-technical-assistance-revision-existing-legal-regulatory-framework http://hdl.handle.net/10986/20273 |
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okr-10986-202732021-04-23T14:03:38Z Vietnam's Petroleum Sector : Technical Assistance for the Revision of the Existing Legal and Regulatory Framework World Bank AUTHORITY BARRELS OF OIL BARRELS PER DAY COMPETITIVE BIDDING COMPETITIVE BIDDING PROCESS CRUDE OIL CRUDE OIL EXPORTS CRUDE OIL RESERVES DECREE DECREES DOMESTIC ENERGY DOWNSTREAM GAS DOWNSTREAM GAS SECTOR DRILLING ECONOMIC CONDITIONS ELECTRICITY EXCESS CAPACITY FISCAL FISCAL INCENTIVES FOREIGN EXCHANGE FOREIGN INVESTMENT FOREIGN INVESTORS FUTURE ENERGY DEMAND GAS DEPARTMENT GAS DISTRIBUTION GAS EXPLORATION GAS INDUSTRY GAS MARKET GAS MARKETING GAS PIPELINES GAS PRICING GAS PRICING POLICY GAS PRODUCTION GAS RESERVES GAS RESOURCES GAS SUPPLIES GAS TRANSMISSION GAS UTILIZATION GOVERNMENT AGENCY GOVERNMENT POLICY HIGH OIL PRICES HYDROCARBONS INCOME INVESTMENT CAPITAL INVESTMENT CLIMATE LAND USE LEGAL FRAMEWORK LEGAL SYSTEM LEGISLATION LEGISLATIVE FRAMEWORK LEGISLATIVE PROVISIONS LEGISLATURE LOW OIL PRICES MINISTRY OF FINANCE NATIONAL OIL NATURAL GAS NATURAL GAS DEVELOPMENT NATURAL GAS PRODUCTION NATURAL GAS RESERVES OIL OIL AND GAS OIL AND GAS SECTOR OIL COMPANIES OIL COMPANY OIL EXPORTS OIL FIELDS OIL PRICES OIL PRODUCTION PETROLEUM PETROLEUM CONTRACTS PETROLEUM DEVELOPMENT PETROLEUM EXPLORATION PETROLEUM INDUSTRY PETROLEUM LAW PETROLEUM PRICES PETROLEUM RESOURCES PETROLEUM SECTOR PIPELINE POTENTIAL INVESTORS POWER GENERATION POWER PLANTS PRODUCERS REGULATORY FRAMEWORK REGULATORY REGIME REGULATORY REGIMES ROYALTY SOCIAL PROTECTION STATE PROPERTY TAX LAW TAX RATE TAXATION The oil and gas potential of Vietnam's continental shelf remains relatively unexplored compared with that of its neighbors, including China, Indonesia, Malaysia, and Thailand. A number of factors affect the decision to undertake petroleum investments: geology, geography, geopolitics, and investment climate. Host governments cannot control the first three factors. However, they do control the investment climate, and the legal and contractual framework and the petroleum fiscal system are key factors to be considered in the competition among governments for access to investment capital. Despite intense efforts to attract international oil companies to explore the country's sedimentary basins, including incentive terms contained in a 1998 decision of the prime minister, drilling activity has remained modest in recent years. The government requested technical assistance from ESMAP for revision of its petroleum legal regime so that it might become a modern legal and regulatory framework for the petroleum sector and attract foreign investment to develop its hydrocarbon reserves. The project team evaluated and identified international best practice in the areas of petroleum regimes to develop its recommendations to Vietnam. They recommended strengthening of the legal, regulatory, and contractual framework based on three cornerstones: the Petroleum Law, the Regulations (or, as they are called in Vietnam, the Decrees), and a Model Contract based on production-sharing agreements. Recommendations were provided to the government of Vietnam in a series of meetings, workshops, and reports. 2014-09-30T14:46:09Z 2014-09-30T14:46:09Z 2003-12 http://documents.worldbank.org/curated/en/2003/12/3032246/vietnam-petroleum-sector-technical-assistance-revision-existing-legal-regulatory-framework http://hdl.handle.net/10986/20273 English en_US Energy Sector Management Assistance Programme (ESMAP);no. 269/03 (December 2003) CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ Washington, DC Publications & Research :: ESMAP Paper Publications & Research East Asia and Pacific Vietnam |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
AUTHORITY BARRELS OF OIL BARRELS PER DAY COMPETITIVE BIDDING COMPETITIVE BIDDING PROCESS CRUDE OIL CRUDE OIL EXPORTS CRUDE OIL RESERVES DECREE DECREES DOMESTIC ENERGY DOWNSTREAM GAS DOWNSTREAM GAS SECTOR DRILLING ECONOMIC CONDITIONS ELECTRICITY EXCESS CAPACITY FISCAL FISCAL INCENTIVES FOREIGN EXCHANGE FOREIGN INVESTMENT FOREIGN INVESTORS FUTURE ENERGY DEMAND GAS DEPARTMENT GAS DISTRIBUTION GAS EXPLORATION GAS INDUSTRY GAS MARKET GAS MARKETING GAS PIPELINES GAS PRICING GAS PRICING POLICY GAS PRODUCTION GAS RESERVES GAS RESOURCES GAS SUPPLIES GAS TRANSMISSION GAS UTILIZATION GOVERNMENT AGENCY GOVERNMENT POLICY HIGH OIL PRICES HYDROCARBONS INCOME INVESTMENT CAPITAL INVESTMENT CLIMATE LAND USE LEGAL FRAMEWORK LEGAL SYSTEM LEGISLATION LEGISLATIVE FRAMEWORK LEGISLATIVE PROVISIONS LEGISLATURE LOW OIL PRICES MINISTRY OF FINANCE NATIONAL OIL NATURAL GAS NATURAL GAS DEVELOPMENT NATURAL GAS PRODUCTION NATURAL GAS RESERVES OIL OIL AND GAS OIL AND GAS SECTOR OIL COMPANIES OIL COMPANY OIL EXPORTS OIL FIELDS OIL PRICES OIL PRODUCTION PETROLEUM PETROLEUM CONTRACTS PETROLEUM DEVELOPMENT PETROLEUM EXPLORATION PETROLEUM INDUSTRY PETROLEUM LAW PETROLEUM PRICES PETROLEUM RESOURCES PETROLEUM SECTOR PIPELINE POTENTIAL INVESTORS POWER GENERATION POWER PLANTS PRODUCERS REGULATORY FRAMEWORK REGULATORY REGIME REGULATORY REGIMES ROYALTY SOCIAL PROTECTION STATE PROPERTY TAX LAW TAX RATE TAXATION |
| spellingShingle |
AUTHORITY BARRELS OF OIL BARRELS PER DAY COMPETITIVE BIDDING COMPETITIVE BIDDING PROCESS CRUDE OIL CRUDE OIL EXPORTS CRUDE OIL RESERVES DECREE DECREES DOMESTIC ENERGY DOWNSTREAM GAS DOWNSTREAM GAS SECTOR DRILLING ECONOMIC CONDITIONS ELECTRICITY EXCESS CAPACITY FISCAL FISCAL INCENTIVES FOREIGN EXCHANGE FOREIGN INVESTMENT FOREIGN INVESTORS FUTURE ENERGY DEMAND GAS DEPARTMENT GAS DISTRIBUTION GAS EXPLORATION GAS INDUSTRY GAS MARKET GAS MARKETING GAS PIPELINES GAS PRICING GAS PRICING POLICY GAS PRODUCTION GAS RESERVES GAS RESOURCES GAS SUPPLIES GAS TRANSMISSION GAS UTILIZATION GOVERNMENT AGENCY GOVERNMENT POLICY HIGH OIL PRICES HYDROCARBONS INCOME INVESTMENT CAPITAL INVESTMENT CLIMATE LAND USE LEGAL FRAMEWORK LEGAL SYSTEM LEGISLATION LEGISLATIVE FRAMEWORK LEGISLATIVE PROVISIONS LEGISLATURE LOW OIL PRICES MINISTRY OF FINANCE NATIONAL OIL NATURAL GAS NATURAL GAS DEVELOPMENT NATURAL GAS PRODUCTION NATURAL GAS RESERVES OIL OIL AND GAS OIL AND GAS SECTOR OIL COMPANIES OIL COMPANY OIL EXPORTS OIL FIELDS OIL PRICES OIL PRODUCTION PETROLEUM PETROLEUM CONTRACTS PETROLEUM DEVELOPMENT PETROLEUM EXPLORATION PETROLEUM INDUSTRY PETROLEUM LAW PETROLEUM PRICES PETROLEUM RESOURCES PETROLEUM SECTOR PIPELINE POTENTIAL INVESTORS POWER GENERATION POWER PLANTS PRODUCERS REGULATORY FRAMEWORK REGULATORY REGIME REGULATORY REGIMES ROYALTY SOCIAL PROTECTION STATE PROPERTY TAX LAW TAX RATE TAXATION World Bank Vietnam's Petroleum Sector : Technical Assistance for the Revision of the Existing Legal and Regulatory Framework |
| geographic_facet |
East Asia and Pacific Vietnam |
| relation |
Energy Sector Management Assistance
Programme (ESMAP);no. 269/03 (December 2003) |
| description |
The oil and gas potential of
Vietnam's continental shelf remains relatively
unexplored compared with that of its neighbors, including
China, Indonesia, Malaysia, and Thailand. A number of
factors affect the decision to undertake petroleum
investments: geology, geography, geopolitics, and investment
climate. Host governments cannot control the first three
factors. However, they do control the investment climate,
and the legal and contractual framework and the petroleum
fiscal system are key factors to be considered in the
competition among governments for access to investment
capital. Despite intense efforts to attract international
oil companies to explore the country's sedimentary
basins, including incentive terms contained in a 1998
decision of the prime minister, drilling activity has
remained modest in recent years. The government requested
technical assistance from ESMAP for revision of its
petroleum legal regime so that it might become a modern
legal and regulatory framework for the petroleum sector and
attract foreign investment to develop its hydrocarbon
reserves. The project team evaluated and identified
international best practice in the areas of petroleum
regimes to develop its recommendations to Vietnam. They
recommended strengthening of the legal, regulatory, and
contractual framework based on three cornerstones: the
Petroleum Law, the Regulations (or, as they are called in
Vietnam, the Decrees), and a Model Contract based on
production-sharing agreements. Recommendations were provided
to the government of Vietnam in a series of meetings,
workshops, and reports. |
| format |
Publications & Research :: ESMAP Paper |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Vietnam's Petroleum Sector : Technical Assistance for the Revision of the Existing Legal and Regulatory Framework |
| title_short |
Vietnam's Petroleum Sector : Technical Assistance for the Revision of the Existing Legal and Regulatory Framework |
| title_full |
Vietnam's Petroleum Sector : Technical Assistance for the Revision of the Existing Legal and Regulatory Framework |
| title_fullStr |
Vietnam's Petroleum Sector : Technical Assistance for the Revision of the Existing Legal and Regulatory Framework |
| title_full_unstemmed |
Vietnam's Petroleum Sector : Technical Assistance for the Revision of the Existing Legal and Regulatory Framework |
| title_sort |
vietnam's petroleum sector : technical assistance for the revision of the existing legal and regulatory framework |
| publisher |
Washington, DC |
| publishDate |
2014 |
| url |
http://documents.worldbank.org/curated/en/2003/12/3032246/vietnam-petroleum-sector-technical-assistance-revision-existing-legal-regulatory-framework http://hdl.handle.net/10986/20273 |
| _version_ |
1764437385948430336 |