Chapter VIII
RIGHTS AND OBLIGATION OF CONTRACTORS
Article 58. Rights of contractors
1. Contractors have the following rights:
a) Enjoy investment incentives and guarantees in accordance with the regulations of Vietnamese law;
b) Use the collected samples, information and data to perform petroleum operations.
c) Recruit workers on the basis of taking priority over recruitment of Vietnamese workers;
d) Hire organizations and individuals providing petroleum services and goods serving petroleum operations in accordance with the regulations of this Law and in conformity with international petroleum industry practices;
dd) Exempt from import and export tariffs to serve petroleum operations in accordance with the regulations of the Law on Import and Export Tariffs;
e) Own petroleum products and other products extracted under petroleum contracts after fulfilling financial obligations according to the regulations of law; be permitted to sell these products together from time to time they are sold without being considered a violation of the law on competition;
g) Export and sell in the Vietnamese market products under their ownership as agreed upon in the petroleum contracts, unless the contractors have to perform the obligation to sell in the Vietnamese market as prescribed in Clause 8 Article 59 of this Law. The contractors do not be necessary to apply for import permits when exporting the products under their ownership;
h) Recover costs for petroleum operations as agreed upon on the petroleum contracts;
i) Access and use the existing traffic system, petroleum infrastructure and installations in accordance with the regulations of law; access and use the existing petroleum infrastructure and installations to serve the performance of petroleum operations through petroleum contracts or agreements with units that are owners or operating managers of petroleum infrastructure and installations on the basis of ensuring the benefits of each party in conformity with the regulations of law;
k) Buy foreign currency at commercial banks to make a contribution to the participation in a petroleum contract and fulfillment of financial obligation to the state budgets;
l) Other rights under the regulations of this Law.
2. Apart from the rights prescribed in Clause 1 of this Article, contractors who are foreign organizations and individuals have the following rights:
a) Open accounts at home or abroad according to the regulations of law on foreign exchange control;
b) Transfer their lawful income obtained from petroleum operations under the regulations of the petroleum contracts abroad according to the regulations of law on foreign exchange control and other regulations of relevant laws after fulfilling financial obligations in accordance with laws;
c) Buy foreign currency at commercial banks to perform current transactions and other permitted transactions in accordance with the law on foreign exchange control.
Article 59. Obligations of contractors
1. Fulfill obligations stated in petroleum contracts.
2. Declare and submit taxes, fees and charges in accordance with the regulations of Vietnamese law;
3. Transfer technology; train and employ Vietnamese workers and ensure their legitimate and legal rights and interests.
4. Comply with regulations of law on national defense and security; implement measures for environmental protection and assurance about the safety in petroleum operations; meet regulations and guidelines of competent authorities on economic and technical costs and norms.
5. Submit reports on petroleum operations to competent authorities and PVN, and submit reports to competent tax authorities according to tax laws on transfers that lead to change of ownership of contractors who are holding the participating interests stated in the petroleum contracts in Vietnam.
6. Provide necessary documents to inspection teams of functional agencies upon request.
7. Decommission petroleum installations, equipment and vehicles after terminating petroleum operations in accordance with laws.
8. Buy in the Vietnamese market upon request of the Government in terms of the following products:
a) Natural gases under the ownership of the contractor as agreed upon in gas exploitation development projects;
b) Crude oil under the ownership of the contractor at an internationally competitive price.
9. Remit the contribution to the joint account opened by an operator or an operator’s operating office in Vietnam to pay for petroleum operations in accordance with the regulations of the petroleum contract.
10. Share the use of the existing petroleum infrastructure and installations with the third party on the basis of the contracts or agreements between these parties if the sharing does not affect petroleum operations and is conformable with regulations of Vietnamese law and international petroleum industry practices.
11. Enable organizations and individuals to conduct scientific researches, exploration and extraction of other minerals and natural resources apart from oil and gas in the petroleum contract area in conformity with regulations of Vietnamese law on a principle of not obstructing petroleum operations and causing no damage to people, assets and environment.
12. Organize selection of contractors providing petroleum services and goods serving petroleum operations on the basis of ensuring the principles of competition, fairness, transparency, efficiency and conformity with the regulations of the petroleum contracts; report the organization of selection of contractors to provide petroleum services and goods serving petroleum operations to PVN.
13. Other obligations under this Law and other relevant laws.
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