Vietnam

February 1, 2010

Wider participation encouraged

The government of Vietnam has opened its petroleum sector to more categories of businesses and relaxed restrictions with an amended decree that allows enterprises as well as all foreign and Vietnamese organisations and individuals to participate, effective from 14 February.

Under the new decree, with all exploration and drilling activities required to be carried out through PetroVietnam, exploration contracts can be extended if the work is not completed on schedule. The decree also supplements some regulations related to bidding, permitting companies and individuals involved in petroleum exploration and drilling to hire sub-contractors.



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