Country report
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15 Pages

Vietnam upstream fiscal summary


Vietnam upstream fiscal summary

Report summary

Complex Production Sharing Contract (PSC)-based fiscal regime where a number of parameters are negotiable.  PetroVietnam has the right to take an equity stake in each contract area; recent contract awards suggest up to 40-50% under a joint operating company structure. Royalty rates and production sharing splits are based on production rates.  Cost recovery ceilings and profit oil splits are negotiable.  Various bonuses, rentals and fees and an export duty on crude oil are payable. The...

What's included?

This report includes 1 file(s)

  • Vietnam upstream fiscal summary PDF - 379.18 KB 15 Pages, 18 Tables, 14 Figures

Description

Volatility in oil markets has led players in the upstream oil and gas industry to focus on reducing capital spend and operating costs. At the same time, governments need to review fiscal terms to maintain attractiveness and investment.

This country report gives an overview of the key fiscal issues for this country. If you’re interested in identifying and assessing upstream investment and expansion opportunities, this upstream fiscal summary report is your definitive commercial guide.

Potential investors, governments and companies in the oil and gas sector can use it to gain a better understanding of the critical issues for development opportunities in this country.

Wood Mackenzie's 500 dedicated analysts are located in the markets they cover. They produce forward-looking analysis at both country and asset level across the globe, backed by our robust proprietary database of trusted research. Proprietary data means a superior level of analysis that is simply not available anywhere else. Wood Mackenzie is the recognised gold standard in commercial data and analysis.

  • Executive summary
  • Current licence, equity and fiscal terms
    • Basis
    • Licence terms
    • Government equity participation
    • Fiscal terms
      • Ring fencing
      • Bonuses, rentals and fees
      • Indirect taxes
      • Royalty
      • Export duty
      • PSC cost recovery
      • PSC profit sharing
      • Additional petroleum taxes
        • Oil surcharge
      • Corporate income tax
      • Product pricing
      • Summary of modelled terms
  • Fiscal stability
    • Recent history of fiscal changes
    • Stability provisions
  • Economic analysis
    • Split of the barrel and share of profit
    • Effective royalty rate and maximum government share
    • Progressivity
    • Fiscal deterrence

In this report there are 32 tables or charts, including:

  • Executive summary
    • Revenue flowchart: Vietnam PSC
  • Current licence, equity and fiscal terms
    • Bonuses, rentals and fees
    • Indirect taxes
    • Royalty rates - Oil
    • Royalty rates - Gas
    • Royalty Rate Oil
    • Royalty Rate Gas
    • Profit Sharing - Oil
    • Profit sharing - Gas
    • Contractor Profit Share Oil
    • Contractor Profit Share Gas
    • Current licence, equity and fiscal terms: Table 7
    • Assumed terms by location - oil
    • Assumed terms by location - Gas
  • Fiscal stability
    • Timeline
    • Timeline details
  • Economic analysis
    • Split of Barrel - oil
    • Split of barrel - gas
    • Share of profit - oil
    • Share of profit - gas
    • Effective royalty rate - onshore/shelf, Oil
    • Effective royalty rate - onshore/shelf, Gas
    • Effective royalty rate - deepwater, Oil
    • Effective royalty rate - deepwater, Gas
    • Maximum government share - onshore/shelf, Oil
    • Maximum government share - onshore/shelf, Gas
    • Maximum government share - deepwater, Oil
    • Maximum government share - deepwater, Gas
    • State share versus Pre-Share IRR - oil
    • State share versus Pre-Share IRR - gas
    • Investor IRR versus Pre-Share IRR - oil
    • Investor IRR versus Pre-Share IRR - gas
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