This Decision issues the Regulation on the establishment, management, and use of the Oil and Gas Exploration Fund. The Vietnam Oil and Gas Group shall be responsible for implementation in accordance with the provisions of the Regulation. This Decision shall take effect fifteen days from the date of publication in the Official Gazette.
Scope of application
Vietnam Oil and Gas Group
Key points
- Vietnam Oil and Gas Group → establish, manage, and use the Oil and Gas Exploration Fund in accordance with the provisions of the Regulation.
🌐 Social impact of this document
- Positive impact: Enhance financial management efficiency in oil and gas exploration activities.
- Negative impact: May cause difficulties in operation due to detailed regulations on the establishment and use of the Fund.
❓ Frequently asked questions
To which organizations does this Decision apply?
This Decision applies to the Vietnam Oil and Gas Group.
What must the Vietnam Oil and Gas Group implement according to this Decision?
The Vietnam Oil and Gas Group must establish, manage, and use the Oil and Gas Exploration Fund in accordance with the provisions of the Regulation.
When does this Decision take effect?
This Decision takes effect fifteen days from the date of publication in the Official Gazette.
What were the previous regulations regarding the establishment, management, and use of the Oil and Gas Exploration Fund for the Vietnam Oil and Gas Corporation?
Previous regulations regarding the establishment, management, and use of the Oil and Gas Exploration Fund for the Vietnam Oil and Gas Corporation are abolished pursuant to this Decision.
Who is responsible for implementing this Decision?
The Minister of Finance, the Minister of Industry and Trade, the Chairman of the Board of Directors, the General Director of the Vietnam Oil and Gas Group, and related agencies shall be responsible for implementing this Decision.
Full text
Pursuant to …;
Regarding the issuance of the Regulation on the establishment, management, and utilization of the Oil Exploration Fund
_________________________________
PRIME MINISTER
Pursuant to the Law on Government Organization dated December 25, 2001;
On the basis of the Petroleum Law in 1993 and the Law amending and supplementing certain Articles of the Petroleum Law in 2000;
On the basis of Decree No. 142/2007/NĐ-CP dated September 5, 2007 of the Government promulgating the Financial Management Regulations for the Parent Company - Vietnam Oil and Gas Corporation Group;
Considering the proposal of the Minister of Finance,
DECISION:
Article 1. The attached Regulation on the establishment, management, and utilization of the Oil Exploration Fund is hereby issued.
Article 2. The Vietnam Oil and Gas Corporation shall be responsible for establishing, managing, and utilizing the Fund in accordance with the provisions of this Regulation.
Article 3. This Decision shall take effect fifteen days from the date of publication in the Official Gazette. All previous regulations concerning the establishment, management, and utilization of the Oil Exploration Fund for the Vietnam Oil Corporation that conflict with this Decision are hereby abolished.
Article 4. The Minister of Finance, the Minister of Industry and Trade shall be responsible for inspecting and supervising the implementation of this Regulation in accordance with their respective state management functions. The Ministers, Heads of ministerial-level agencies, Heads of government-affiliated agencies, Chairmen of People's Committees of provinces and centrally governed cities, Chairmen of the Board of Directors, and General Directors of the Vietnam Oil and Gas Corporation shall be responsible for implementing this Decision./.
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