According to the latest Vietnam Oil & Gas Report by BMI, Vietnam will be supplying 4.19% of oil demand to the regional countries by 2014.

With expected increase in oil and gas exploration and production operations, a new model of PSC has been issued by government and becomes effective on 8 June 2013. The revised model limit the rights allowed under the previous model and incorporates important legislative developments, which affect investors' decision making process.

CMT's 15th VOGP 2013 to take place in Ho Chi Minh City on the 12-13 Sep, 2013, gathers industry-leaders and government officials to discuss the intricacies of the new PSC model including potential of offshore and deep-water reserves, financing criteria and requirements, recent changes in energy regulatory framework and renewable energy and bio fuel developments.

With over 18 years of experience, Mr. Luu Hoang Ha, Partner, VILAF,elaborates on Vietnam Model PSC 2013 and Protecting Energy Investment in Vietnam. His talk covers:

• Key Policy Directions for the new PSC Model;
• Key Changes from the previous Model PSC (2005);
• How to best negotiate a new PSC under the Model 2013;
• Recent changes in energy regulatory framework and implementation practices;
• Dealing with regulatory controversies, audits, and investigations; and
• Managing potential investment disputes from day one

The New Model PSC also specifies export tax and corporate income tax rates. In his discussion on International TaxStructuring Issues forVietnam Upstream Oil and GasOperations, Mr. Ta Hong Thai,Partner, Tax & CorporateServices, KPMG, further elaborates on:

• Tax implications of farm-in and farm-out
• Impact of changes to Vietnam's Double Taxation
• Agreements on holding structures for oil and gas interests
• Vietnam's revised Foreign Contractor Tax applicable to drilling operations
• Permanent establishment problems for oilfield service providers

As a part of the new PSC model, contractors are required to pay environmental protection fees and a surcharge imposed on profit oil or profit gas. Mr. Hai Pham, General Director, Environmental Resources Management, discusses the country's Environmental Issues and Corporate Social Responsibility.

That's not all, highlights includes a session on Vietnam Oil andGasDevelopment and E&P Market which will be presented by Dr.PhanTien Vien, General Manager, Exploration Division,PetroVietnam with the focus on:

• Updates on Licensing Round
• Developments in deep-water E&P
• Attracting foreign investors on oil & gas activities
• Opportunities and challenges

Download the Program Agenda and Register today to secure your seat!
You can contact me at janemai@cmtsp.com.sg or Tel. +65 6346 9115 for further details.