Country Report

Vietnam upstream fiscal summary

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Report summary

All licences are governed by production sharing contracts (PSCs) of several vintages, with the  most recent 2013 PSC covered in this analysis. National oil company, PetroVietnam, has the right to take an equity stake in each contract area; recent contract awards suggest up to 20-50% under a joint operating company structure. Royalty rates and profit sharing splits are based on production rates. Various fees, export duty on crude oil,  petroleum income tax and oil surcharge (additional profits tax) are also payable. Bonuses, cost recovery ceilings and profit splits are negotiable. In designated frontier areas, investors can benefit from lower royalty, oil surcharge and petroleum income tax, and higher cost recovery ceilings and profit splits under the 'petroleum investment promotion' scheme.

What's included

This report contains

  • Document

    Vietnam upstream fiscal summary

    PDF 306.66 KB

Table of contents

Tables and charts

This report includes 33 images and tables including:

Tables

  • Timeline details
  • Effective royalty rate and minimum state share - onshore/shelf, oil
  • Effective royalty rate and minimum state share - onshore/shelf, gas
  • Effective royalty rate and minimum state share - deepwater, oil
  • Effective royalty rate and minimum state share - deepwater, gas
  • Maximum government share and maximum state share - onshore/shelf, oil
  • Maximum government share and maximum state share - onshore/shelf, gas
  • Maximum government share and maximum state share - deepwater, oil
  • Maximum government share and maximum state share - deepwater, gas
  • Bonuses, rentals and fees
  • Indirect taxes
  • Royalty rates - oil
  • Royalty rates - gas
  • Contractor profit share - oil
  • Contractor profit share - gas
  • Current licence, equity and fiscal terms: Table 7
  • Current licence, equity and fiscal terms: Table 8
  • Assumed terms by location - Gas

Images

  • Revenue flowchart: Vietnam PSC
  • Timeline
  • Split of Barrel - oil
  • Split of barrel - gas
  • Share of profit - oil
  • Share of profit - 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
  • Royalty rates - oil
  • Royalty rates - gas
  • Contractor profit share - oil
  • Contractor profit share - gas
  • Oil surcharge rates

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