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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. |
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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.
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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. |
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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.
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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: |
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- 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.
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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. |
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Data
Review |
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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. |
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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. |
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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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