PETROLEUM LAWIn order to effectively conserve, exploit and utilize Petroleum resources for the development of the national economy and the promotion of cooperation with foreign countries; Pursuant to Articles 17, 29 and 84 of the 1992 Constitution of the Socialist Republic of Vietnam; This Law governs Petroleum exploration and production activities carried out within the territory, the exclusive economic zone and the continental shelf of the Socialist Republic of Vietnam. CHAPTER I GENERAL PROVISIONSArticle 1 All the Petroleum existing in the subsoil of the land, islands, internal waters, territorial sea, exclusive economic zone and continental shelf of the Socialist Republic of Vietnam is the property of the Vietnamese People under the sole management of the State of Vietnam. Article 2 The State of Vietnam encourages Vietnamese and foreign organizations and individuals to invest capital and technology to conduct Petroleum Operations on the basis of respect for the independence, sovere...