Country Report
Vietnam upstream fiscal summary
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
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.
Table of contents
- Basis
- Licence terms
- Government equity participation
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Fiscal terms
- Ring fencing
- Bonuses, rentals and fees
- Indirect taxes
- Royalty
- Export duty
- PSC cost recovery
- PSC profit sharing
- Additional petroleum taxes
- 5 more item(s)...
- Recent history of fiscal changes
- Stability provisions
- Split of the barrel and share of profit
- Effective royalty rate and maximum government share
- Progressivity
- Fiscal deterrence
Tables and charts
This report includes the following images and tables:
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TimelineTimeline detailsSplit of Barrel - oil
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Split of barrel - gasShare of profit - oilShare of profit - gasEffective royalty rate and minimum state share - onshore/shelf, oilEffective royalty rate and minimum state share - onshore/shelf, gasEffective royalty rate and minimum state share - deepwater, oilEffective royalty rate and minimum state share - deepwater, gasMaximum government share and maximum state share - onshore/shelf, oilMaximum government share and maximum state share - onshore/shelf, gas
- 20 more item(s)...
What's included
This report contains:
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