Country Report
Vietnam upstream summary
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
The country’s oil and gas production comes essentially from two basins, but this will change for gas. Gas production will double to 1.8 bcf/d in the 2030s if key gas to power project progress. Nevertheless, LNG import is inevitable. Oil production is in decline since 2016. NOCs and joint operating companies dominate the corporate landscape, followed by Japanese and Korean companies, while IOCs have been exiting. Licensing has been rare, and exploration needs a boost.
Table of contents
- Executive summary
- Key facts
- Location maps
-
Key companies
- PetroVietnam
- NOCs
- Japanese and Korean companies
- IOCs and regional players
- Majors
-
Geology
- Introduction
-
Cuu Long Basin
- Basin Setting
- Stratigraphy
- Reservoirs
- Traps
- Source Rocks
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Nam Con Son Basin
- Basin Setting
- Stratigraphy
- Reservoirs
- Traps
- Source Rocks
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Song Hong Basin
- Hanoi Trough
- Offshore Areas
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Phu Khanh Basin
- Basin Setting
- Stratigraphy
- Structures
- Malay Basin
- Other basins
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Exploration
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Licensing
- Recent and future licensing (2009 - 2024)
- The Song Hong Basin Licensing Round and awards in 2006-2008
- The Deepwater Licensing Round in 2005
- Licensing in 2000-2004
- Historical licensing (pre-2000)
-
Drilling
- Drilling activity
- Future exploration drilling
- Recent exploration drilling (2019-2024)
- Historic exploration
- 1990s
- 2000-2005
- 2006-2010
- 2011-2015
- 2 more item(s)...
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Licensing
- Reserves and resources
-
Production
- Oil
- Future oil production
- Historical oil production
- Gas
- Future gas production
- Historical gas production - Southern Vietnam
- Historical gas production - Northern/Central Vietnam
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Infrastructure
- Oil infrastructure
- Gas infrastructure
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Southern Vietnam
- Cuu Long Basin
- Nam Con Son Basin
- Malay Basin
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Northern/Central Vietnam
- Hanoi Basin
- Song Hong Basin
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Costs
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Capital costs
- Capital expenditure by location
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Operating costs
- Operating expenditure by location
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Capital costs
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Policy and regulation
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Key legislation
- 1993 Petroleum Law, 2000 and 2008 Amendments
- 2022 Amendment
- Foreign Investment Law
- State oil company
- State participation
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Licensing
- General Contract Terms
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Key legislation
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Fiscal terms
- Current fiscal terms
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Key PSC terms in details
- State equity participation
- Bonuses, rentals and fees
- Indirect taxes
- Royalty and other production taxes
- Export duty
- Domestic Market Obligation (DMO)
- Contractor revenue entitlement
- Product Pricing
- 7 more item(s)...
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Marginal Government Take
- Pre-1993 Contract Terms
- Post-1993 Contract Terms
- 2010 Frontier Terms
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Historical background
- 1990s
- 2000s
Tables and charts
This report includes the following images and tables:
- Key facts: Table 1
- Country Map
- Reserves and resources: Table 1
- Liquids and Gas Production and Reserves
- Liquids and Gas Reserves
- Reserves and contingent resources at 01/01/2024
- Net Acreage 2024
- Map of Principal Tertiary Sedimentary Basins
- Liquids Production
- Production: Table 1
- Production: Table 2
- Gas Production
- 42 more item(s)...
What's included
This report contains:
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