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THE GOVERNMENT ---SOCIALIST REPUBLIC of VIET NAM Independence

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THE GOVERNMENT ---SOCIALIST REPUBLIC of VIET NAM Independence THE GOVERNMENT SOCIALIST REPUBLIC OF VIET NAM -------- Independence - Freedom – Happiness ---------------- No: 33/2013/ND-CP Hanoi, April 22, 2013 DECREE 1 On the Model Petroleum Production Sharing Contract Pursuant to the Law on Government Organization dated December 25, 2001; Pursuant to the Petroleum Law 1993; Law on amending and supplementing a number of articles of the Petroleum Law in 2000 and Law on amending and supplementing a number of articles of the Petroleum Law in 2008; At the proposal of the Minister of Industry and Trade; The Government promulgates the Decree on the Model Petroleum Production Sharing Contract. Article 1. To promulgate together with this Decree the Model Petroleum Production Sharing Contract. Article 2. All Petroleum Production Sharing Contracts must comply with the Model contract promulgated together with this Decree. Vietnam Oil and Gas Group and the Contractors shall only negotiate the contents epitomized "depending on the bidding result or negotiation" similar to provision in Article 20.7 of the Model contract. The parties to the contract may agree not to apply the Model contract with the Prime Minister’s approval. Article 3. This Decree does not apply to the petroleum contracts executed before the effective day of this Decree. With respect to the blocks of which the basic economic, technical and commercial conditions have been approved by the Prime Minister before the effective day of this Decree, the negotiation and execution of such contracts shall continue performing under the Model Petroleum Production Sharing Contract promulgated together with Decree No. 139/2005/ND-CP of the Government dated November 11, 2005. 1 Initial Draft Translation by VILAF for internal use and subject to further revisions and updates. 1 Article 4. This Decree takes effect on June 08, 2013 and replaces Decree No. 139/2005/ND- CP of the Government dated November 11, 2005 on promulgating the Model Petroleum Production Sharing Contract . Article 5. The Ministers, Heads of ministerial-level agencies, Heads of Governmental agencies, the Presidents of the People’s Committee of central-affiliated cities and provinces and relevant organizations and individuals shall implement this Decree. Recipients: ON BEHALF OF THE GOVERNMENT THE PRIME MINISTER - Secretariat of the Communist Party of Vietnam; - Prime Minister, Deputy Prime Minister; (signed and sealed) - Ministries, Ministerial level agencies, governmental agencies; Nguyen Tan Dung - Provincial People’s Committees, People’s Counsel; - Communist Party office and management ; - General secretary office; - President office; - Ethnic Affairs Counsel and Committees of the National Assembly; - National Assembly office; - Supreme Court; - Supreme Procuracy; - National Financial Supervision Committee; - National Audit; - Bank for Social Policies; - Vietnam Development Bank; - Central Committee of Vietnamese Fatherland Front; - Central agencies of the organizations; - Vietnam Oil and Gas Group; - Government Office - Filing: VT, KTN (3 copies). 2 MODEL PETROLEUM PRODUCTION SHARING CONTRACT 2 (Issued with Decree No. 33/2013/ND-CP dated 22 April 2013 of the Government) PETROLEUM PRODUCTION SHARING CONTRACT BETWEEN VIETNAM OIL AND GAS GROUP WITH [ ] AND [ ] FOR BLOCK [ ] SOCIALIST REPUBLIC OF VIETNAM HA NOI, .......... 2 Initial Draft Translation by VILAF for internal use and subject to further revisions and updates. 3 TABLE OF CONTENTS Chapter I ...................................................................................................................10 DEFINITIONS, EXHIBITS AND SCOPE OF CONTRACT .................................10 Article 1.1 ...................................................................................................................10 Article 1.2 ...................................................................................................................17 Article 1.3 ..................................................................................................................17 Chapter II ..................................................................................................................17 TERM, MINIMUM WORK COMMITMENTS AND SURRENDER OF CONTRACT AREA .................................................................................................18 Article 2.1 ...................................................................................................................18 Article 2.2 ...................................................................................................................19 Article 2.3 ...................................................................................................................21 Chapter III ................................................................................................................23 MANAGEMENT COMMITTEE ............................................................................23 Article 3.1 ...................................................................................................................23 Article 3.2 ...................................................................................................................24 Article 3.3 ...................................................................................................................24 Article 3.4 ...................................................................................................................24 Article 3.5 ...................................................................................................................24 Article 3.6 ...................................................................................................................25 Article 3.7 ...................................................................................................................25 Article 3.8 ...................................................................................................................25 Article 3.9 ...................................................................................................................25 Chapter IV ................................................................................................................25 WORK PROGRAMS AND BUDGETS ...................................................................25 Article 4.1 ...................................................................................................................25 Article 4.2 ...................................................................................................................26 Article 4.3 ...................................................................................................................26 Article 4.4 ...................................................................................................................28 Article 4.5 ...................................................................................................................29 Article 4.6 ...................................................................................................................29 Article 4.7 ...................................................................................................................30 Article 4.8 ...................................................................................................................30 Article 4.9 ...................................................................................................................30 Article 4.10 .................................................................................................................30 Chapter V ..................................................................................................................30 GENERAL RIGHTS AND OBLIGATIONS OF THE PARTIES ..........................30 Article 5.1 ...................................................................................................................31 Article 5.2 ................................................................................................................................. 38 Chapter VI ................................................................................................................40 ALLOCATION OF PETROLEUM .........................................................................40 Article 6.1 ...................................................................................................................40 Article 6.2 ..................................................................................................................43 Chapter VII ...............................................................................................................45 TAXES, FEES AND CHARGES ..............................................................................45 Articlle 7.1 ..................................................................................................................45 Article 7.2 ...................................................................................................................45 Article 7.3 ...................................................................................................................45 Article 7.5 ...................................................................................................................46 Article 7.6 ...................................................................................................................46 Article 7.7 ...................................................................................................................46
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