Vietnam: Guidance on the dossier for appraisal of oil and gas contract from December 01, 2015

According to Clause 1 Article 37 of Decree No. 95/2015/ND-CP of Vietnam’s Government, the dossier for appraisal of oil and gas contract includes:

a) The written request for appraisal of oil and gas contract from the Vietnam Oil and Gas Group;

b) The economic and technical explanation prepared by the Vietnam Oil and Gas Group;

c) The certified Certificate of operation registration of organization; the identity card or passport of investor as individual involved in oil and gas contract;

d) Letter of guarantee for exercise of contract obligations of the contractor or each contractor in the contractor partnership issued by a reputable international bank or by the parent company of the contractors or each contractor in the contractor partnership and approved by the Vietnam Oil and Gas Group.

dd) Draft of oil and gas contract;

e) Company charter, financial statement (if any) and other relevant legal documents as a basis for negotiation on oil and gas contract.

The Vietnam Oil and Gas Group shall submit (02) sets of original dossier and eight (08) sets of copied dossier to the Ministry of Industry and Trade. The procedure for appraisal and submission to the Prime Minister for review and approval for oil and gas contract shall comply with the provisions specified in Article 81 of this Decree.

Then, on the basis of approval of the Prime Minister for the draft of oil and gas contract, the Vietnam Oil and Gas Group and the contractor shall sign the oil and gas contract. Within 10 working days after receiving the signed original oil and gas contract submitted by the Vietnam Oil and Gas Group, the Ministry of Industry and Trade shall review and issue the Certificate of investment registration.

View more details at Decree No. 95/2015/ND-CP of Vietnam’s Government, which takes effect from December 01, 2015.

Thu Ba

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