Potential open acreages (blocks) for application of petroleum exploration and production contracts will be widely announced by PetroVietnam in the scope of international licensing rounds or other invitation methods approved by the Government (direct negotiation can be applied). An invitation to bid, including detailed guidance to the contract area, bidding terms, conditions and deadline for submission shall be introduced.
          Following the announcement, data packages and briefs of petroleum geology for opening areas will be prepared for study. Applicants can access all existing data within the block(s) of their interest. Data fee is proposed by the applicant on a negotiation basis, exclusive of a small amount of service charges for data preparation and copying for review. PetroVietnam remains the owner of data and the utilization of data shall comply with Vietnamese law.

          To support the company in examining opportunities, PetroVietnam and geophysical contractors has signed a number of multiclient agreements to market a large volume of seismic data in the continental shelf, covering most of the prospective exploration areas. Database consists of around 30,000 line km of 2D seismic and has been processed with the latest technology.
          Within 60 (sixty) days of bid announcement, interested applicant (or group of applicants in partnership) shall register for its participation in the licensing round, plus supplying its legal status, technical and financial capability and experiences, and receive bid documents. Within 60 (sixty) days of bid documents receipt, the applicant shall submit its official bidding proposal for PetroVietnam's consideration.

          All the bids that meet the basic requirements stated in the bidding dossiers will be qualified. Bids shall be evaluated on the basis of the following criteria, within 30 days of closing the bid round:
  • Capability of the bidders, including technical resources, financial strength and experience, etc.
  • Economic efficiency for the host country, based on the evaluation report submitted by the applicants. Assessment for reserves and its probability proposed by each bidder shall be calculated in the same basis to define the best application (supposing the participation of PetroVietnam is the same). This is a major concern.
  • Work and financial commitments, including seismic acquisition/ processing, interpretation, drilling and others. This is a major concern.
  • Bonuses, training, data fee and other benefits, etc.
          Upon the pre-qualification, PetroVietnam and the successful applicant will discuss detailed contract contents, including minimum work and financial commitments for each phase of exploration period, schedule of work, bonuses and training fee, profit sharing, etc. The work program can be revised to accommodate the information acquired from previous surveys. PetroVietnam's participation shall also be arranged between parties. The license will be issued upon receiving the approval of the Vietnamese Government.
  Data Review
            Upon the bid announcement, or request from oil companies, PetroVietnam will make available petroleum data packages for assessment of petroleum potential of the area of interest. At the initial stage, the company may be permitted to review a quantity of regional and local representative seismic sections and well logs in-house and free of charge. Any company is encouraged to participate and evaluate data with no commitment to PetroVietnam.
            The company may request further access to data packages, which contain all available data within the block(s), including seismic data, well data, geological and geochemical data, etc, with minor preparation charge and some key seismic sections are allowed to be taken away. A data fee is part of the financial contribution, and is mutually agreed by the parties when the petroleum contract is signed.
            To support the company in examining the opportunities, PetroVietnam and geophysical contractors have signed a number of multiclient agreements to market a considerable volume of seismic data in the continental shelf, covering most of the prospective exploration areas. This database consists of around 30,000 line km of 2D seismic and some 3D seismic that has been processed by organizations with vast experience of the area's geological conditions. Non-exclusive data may be purchased through WesternGeco and PGS.

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Last Update: 8 August 2002