Decree No. 33/2013/NĐ-CP Issuing the Model Contract for the Oil and Gas Product Sharing Contract

✦ Smart summary

Decree No. 33/2013/NĐ-CP issues the model oil and gas product sharing contract, applicable from June 8, 2013. Contracts must comply with this model contract except for contracts signed before the Decree takes effect.

Scope of application

Vietnam Oil and Gas Group and Contractor

Key points

The Oil and Gas Product Sharing Contract must comply with the model contract issued together with this Decree.
Vietnam Oil and Gas Group and Contractor may negotiate contents dependent on bidding results or negotiations, similar to the provisions at Article 20.7 of the model contract.
This Decree does not apply to oil and gas contracts signed before the effective date of this Decree.
For oil and gas blocks that have been approved by the Prime Minister for basic economic, technical, and commercial conditions before the effective date of this Decree, negotiations and signing shall continue according to the model contract of the Oil and Gas Product Sharing Contract issued under Decree No. 139/2005/NĐ-CP.
This Decree takes effect from June 8, 2013, and replaces Decree No. 139/2005/NĐ-CP.

🌐 Social impact of this document

Positive impact: The new model contract will help ensure transparency and fairness in the process of sharing oil and gas products.
Negative impact: Contracts signed before the Decree takes effect are not affected, creating inconsistencies in management.

❓ Frequently asked questions

What model contract must the Oil and Gas Product Sharing Contract follow?

The Oil and Gas Product Sharing Contract must comply with the model contract issued together with this Decree.

What contents can Vietnam Oil and Gas Group and Contractor negotiate?

Vietnam Oil and Gas Group and Contractor may only negotiate contents dependent on bidding results or negotiations, similar to the provisions at Article 20.7 of the model contract.

To which contracts does this Decree apply?

This Decree does not apply to oil and gas contracts signed before the effective date of this Decree.

How should oil and gas blocks that have been approved by the Prime Minister for basic economic, technical, and commercial conditions before the Decree takes effect be handled?

Negotiations and signing shall continue according to the model contract of the Oil and Gas Product Sharing Contract issued under Decree No. 139/2005/NĐ-CP.

When does this Decree take effect?

This Decree takes effect from June 8, 2013, and replaces Decree No. 139/2005/NĐ-CP.

Full text

THE GOVERNMENT

SOCIALIST REPUBLIC OF VIET NAM

Independence – Freedom – Happiness

NUMBER: 33/2013/NĐ-CP

HA NOI, April 22, 2013

DECREE

ISSUING THE MODEL CONTRACT OF THE PRODUCT-SHARING OIL AND GAS CONTRACT

_________________________

Pursuant to the Law on Organization of the Government dated December 25, 2001;

BASED ON THE OIL AND GAS LAW IN 1993; THE LAW AMENDING AND SUPPLEMENTING CERTAIN PROVISIONS OF THE OIL AND GAS LAW IN 2000 AND THE LAW AMENDING AND SUPPLEMENTING CERTAIN PROVISIONS OF THE OIL AND GAS LAW IN 2008;

At the proposal of the Minister of Industry and Trade;

THE GOVERNMENT ISSUES THE DECREES ON THE MODEL CONTRACT OF THE PRODUCT-SHARING OIL AND GAS CONTRACT,

Article 1. ATTACHED TO THIS DECREE IS THE MODEL CONTRACT OF THE PRODUCT-SHARING OIL AND GAS CONTRACT.

Article 2. THE PRODUCT-SHARING OIL AND GAS CONTRACT MUST COMPLY WITH THE MODEL CONTRACT ISSUED ALONG WITH THIS DECREE.

THE VIETNAM OIL AND GAS GROUP AND THE CONTRACTOR SHALL NEGOTIATE THE CONTENTS SUMMARIZED AS "DEPENDENT ON THE BIDDING RESULTS OR NEGOTIATIONS" SIMILAR TO THE PROVISIONS OF POINT 20.7 OF THE MODEL CONTRACT. IN CASE OF

Article 3. THIS DECREE DOES NOT APPLY TO OIL AND GAS CONTRACTS SIGNED BEFORE THE EFFECTIVE DATE OF THIS DECREE. FOR OIL AND GAS BLOCKS THAT HAVE BEEN APPROVED BY THE PRIME MINISTER FOR BASIC ECONOMIC, TECHNICAL, AND COMMERCIAL CONDITIONS BEFORE THE EFFECTIVE DATE OF THIS DECREE, THE NEGOTIATION AND SIGNING SHALL CONTINUE TO BE CONDUCTED ACCORDING TO THE MODEL CONTRACT OF THE PRODUCT-SHARING OIL AND GAS CONTRACT ISSUED ACCOMPANYING DECREE NO. 139/2005/NĐ-CP OF THE GOVERNMENT DATED NOVEMBER 11, 2005.

Article 4. THIS DECREE SHALL TAKE EFFECT FROM JUNE 8, 2013 AND REPLACE DECREE NO. 139/2005/NĐ-CP OF THE GOVERNMENT DATED NOVEMBER 11, 2005 ON THE ISSUE OF THE MODEL CONTRACT OF THE PRODUCT-SHARING OIL AND GAS CONTRACT.

Article 5. MINISTERS, HEADS OF GOVERNMENTAL AGENCIES AT THE MINISTERIAL LEVEL, HEADS OF GOVERNMENTAL AGENCIES UNDER THE GOVERNMENT, CHAIRMEN OF PROVINCE PEOPLE'S COMMITTEES, MUNICIPALITIES DIRECTLY UNDER THE CENTRAL GOVERNMENT, AND ASSOCIATED ORGANIZATIONS AND INDIVIDUALS ARE RESPONSIBLE FOR IMPLEMENTING THIS DECREE./.

PRIME MINISTER
PRIME MINISTER

(Signed)

Nguyen Tan Dung