List of Approved Buyers Itb Bid Requirements-V2-Pv Oil Explanations

LIST OF APPROVED BUYERS

NO. COMPANIES FINANCIAL SECURITY REQUIRED

I – PRINCIPALS (*)

1 VIETNAM OIL AND GAS GROUP (PETROVIETNAM) LPG

2 GAZPROM EP INTERNATIONAL B.V. (GPEPI) LPG

(*) Including such Principals’ Affiliates

II – PRINCIPAL’S NOMINEE

3 PETROVIETNAM OIL CORPORATION (PV OIL) LPG

III – BUYERS

41 ARCADIA ENERGY PTE LTD SBL/C

52BINH SON REFINING AND PETROCHEMICAL CO., LTD (BSR)

LPG

63 BP SINGAPORE PTE LTD LPG

74 BRIGHTOIL PETROLEUM (SINGAPORE) PTE. LTD. SBL/C

85 CHEVRON U.S.A INC. (SINGAPORE BRANCH) LPG

96CHINA NATIONAL UNITED OIL CORPORATION (CHINA OIL)

SBL/C

107 CONCORD ENERGY PTE. LTD. SBL/C

118EXTAP (A DIVISION OF EXXONMOBIL ASIA PACIFIC PTE. LTD.)

LPG

129 GLENCORE SINGAPORE PTE LTD SBL/C

1310 GS CALTEX SINGAPORE PTE LTD SBL/C

1411 GUNVOR SINGAPORE PTE. LTD. SBL/C

1512 HYUNDAI OILBANK CO., LTD. SBL/C

1613 IDEMITSU KOSAN CO., LTD SBL/C

oanhptk, 10/22/13,

PV OIL’s comments: We would suggest to maintain Principals therein as per common practice in all Vietnamese crude oil and condensate so far. In case Hai Thach condensate cargo cannot be awarded to any buyer, the cargo can be offered to the Principals. Since there are 2 Principals in Hai Thach condensate, it should be stipulated clearly from the beginning the financial security (LPG/SBLC) required if the Principal re-purchases the cargo to avoid any confict afterwards. BDPOC: PV Oil’s comments on this issue is not practical and unacceptable. If PVN or GPEPI (inclusive of its Affiliates) want to buy the HT Condensate, they should be added to the list of the approved buyers. In case no buyer to purchase the HT Condensate, how do you offer to PVN and GPEPI. For sure PVN doesn’t buy, except PVN’s Affiliates. I think only PV Oil can buy. If GPEPI want to buy for the case of no buyer, how you control the price? Therefore, in order to keep the transparency for the buyer selection process, any party want to buy the HT condensate, such party should be added to the List of the Approved Buyers.

oanhptk, 10/22/13,

PV OIL’s comments: Since PV OIL has keen interest in Hai Thach condensate, PV OIL would like to be added in Approved Buyer List under the group of “Buyers” and the financial security required for both PV OIL and BSR is LPG as they are all affiliates of PetroVietnam. BDPOC: agree.

1714ITOCHU CORPORATION / ITOCHU PETROLEUM COMPANY (SINGAPORE) PTE LTD

SBL/C

1815 JX NIPPON OIL & ENERGY CORPORATION SBL/C

1916MITSUBISHI CORPORATION / PETRO DIAMOND COMPANY LTD.

SBL/C

2017MITSUI & CO., LTD / MITSUI & CO. ENERGY TRADING SINGAPORE PTE. LTD. (METS)

SBL/C

2118 PETCO TRADING LABUAN CO. LTD. SBL/C

PETROBRAS SINGAPORE PTE. LTD. SBL/C

PETROVIETNAM OIL CORPORATION LPG

2219 PETROVIETNAM OIL SINGAPORE PTE. LTD LPG

230 PTT PUBLIC COMPANY LIMITED SBL/C

2421 SAI GON PETRO CO. LTD. SBL/C

2522SHELL INTERNATIONAL EASTERN TRADING CO. (SIETCO)

LPG

2623SK ENERGY CO., LTD/ SK ENERGY INTERNATIONAL PTE. LTD./SK INCHEON PETROCHEMICAL CO., LTD.

SBL/C

2724SUMITOMO CORPORATION/ PETROSUMMIT PTE. LTD.

SBL/C

2825TAIYO OIL CO., LTD. / TAIYO INTERNATIONAL PTE. LTD.

SBL/C

2926 THAI OIL PUBLIC COMPANY LIMITED SBL/C

3027 TRAFIGURA PTE LTD SBL/C

3128 UNIPEC ASIA CO. LTD. SBL/C

3229 VITOL ASIA PTE LTD SBL/C

* Notes: For Financial Security Required, “SBL/C” means a Standby Letter of Credit, “LPG” means Letter of Payment Guarantee.

oanhptk, 10/22/13,

PV OIL’s comments: We would suggest to add Petrobras as a potential buyer into Approved Buyer List. BDPOC: agree

VIET NAM NATIONAL OIL AND GAS GROUP – PETROVIETNAMPETROVIETNAM OIL CORPORATION

14th – 17th Floor, PetroVietnam Tower, 1-5 Le Duan Street, District 1, HoChiMinh City, S.R. Viet Nam

Tel: (84-8) 3910 6990 Fax: (84-8) 3910 6980

Date : October 2013 No. of Page(s): 01 + 03

To : (COMPANY NAME OF APPROVED BUYER)Attention : (Name of person authorized to represent Approved Buyer)Fax No. :

Our Ref. : /DVN-DT

Subject : Hai Thach Condensate - December 2013 Delivery

Dear Sirs/Madams,

On behalf of Vietnam Oil and Gas Group (PETROVIETNAM) and Gazprom EP International B.V. (GPEPI) as the Sellers Principals of the Hai Thach Condensate, PetroVietnam Oil Corporation (PV OIL), as the Sellers’ Marketing Agent of the Hai Thach Condensate, is pleased to extend this invitation to your Companyinvite you to submit an irrevocable and unconditional bid Bid Proposal to purchase the Hai Thach condensate Condensate as per the attached Bid Proposal Requirements of the Sellers.

Your timely submission of bid the Bid Proposal would beiswould be highly appreciated.

Yours faithfully,

BID PROPOSAL REQUIREMENTSFor Sales of the Hai Thach Condensate – December 2013 Delivery

1. Quantity : 200,000 U.S. Barrels plus or minus a five percent (5%) operational tolerance subject to acceptance by the Blocks 05-2 and 05-3 Operator.

2. Quality: Hai Thach Condensate of Tthe quality of the Hai Thach Condensate isas available at Bien Dong Terminal at the time of loading.

3. Term of the Delivery :

FOB from Bien Dong Terminal, Offshore Vung Tau, S.R. Vietnam during …./12/2013.

4. Delivery Schedule:

Tentatively in December, 2013. The Marketing Agent shall update the Buyer on the Hai Thach Condensate delivery schedule later.

The Loading Date Range shall be narrowed to three (3) days or two (2) days as confirmed by Sellers’ Agent subject to acceptance by Blocks 05-2 and 05-3 Operator.

Due to Terminal restriction on night berthing, the Loading Date Range ends at 16:00 (L/T) (L/T) on the last day of the Loading Date Range.

45. Unit Price : The FOB offered Unit Price for the Hai Thach Condensate shall be the F.O.B unit price, in US Dollars per net U.S. Barrel and which shall be calculated at 100% of the whole month average of Platts’ Dated Brent mean quotations (Platts’ Crude Oil Marketwire quotations for Dated Brent crude Crude oilOil) as published in the month (the first and the last day inclusive) having of the Bill of Lading Date, plus/ or minus a premium of US Dollars x.x.x /per net U.S. Barrel which shall be offered by the Buyer.(In words: plus/minus US Dollars ... per net U.S. Barrel). (Dated Brent +/premium)

5. Payment and Credit :

The Buyer shall pay Beneficiariesto the Sellers’s nominated account, as designated by the Sellers’ Marketing Agent, within thirty (30) days from the Bill of Lading Date (“B/L”) date (B/L date counted as zeroinclusive of the Bill of Lading Date) by Telegraphic Transfer. The Buyer shall be required to furnish to the Sellers a Standby Letter of Credit issued by a first class commercial bank and acceptable to the Sellers within fourteen (14) Working Days from the first day of the L As required by

oanhptk, 10/22/13,

PV OIL’s comments: We would suggest “14 days” as per common practice for all Vietnamese crude oil and condensate so far since “14 working days” is longer and costs buyers more then the buyer will not agree with this condition. BDPOC see revision.

oanhptk, 10/21/13,

PV OIL’s comments: We would suggest revising to “a first class international banks acceptable to Sellers and Marketing Agent” since the Standby L/C is normally opened by the international banks in which the buyer operates.

oanhptk, 10/21/13,

PV OIL’s comments: We would suggest not to attach the format of Standby Letter of Credit in Bid Requirements but will provide it to the awarded buyers so that the buyers can concentrate on their offers. We suggest revising as follows: The Buyer shall be required to furnish to the Sellers a Standby Letter of Credit in the standard format acceptable to Sellers and Marketing Agent.

, 10/21/13,

What is meaning here. Please make clarifications. PV OIL’s explanation: The unit price of Hai Thach condensate will be calculated by taking the average quotations of Dated Brent oil in Platts (a source for price quotations) in the month of Bill of Lading plus/minus a premium as offered by Buyer. For example: if the cargo has Bill of Lading date on 20 October 2013, the price of the cargo shall be the price of Dated Brent in Platts from 1 – 31 October 2013 plus/minus premium as offered by Buyer.

User, 10/21/13,

PV OIL’s comments: L/T means Local Time and it must be noted to avoid doubts.

oanhptk, 10/22/13,

PV OIL’s comments: We would suggest to maintain since the buyers should be known the Loading Range for the cargo to be sold. BDPOC: Please see the revision

Sellers’ Agent, Buyer to establish a Standby Letter of Credit with respect to its payment obligations. Such a required Standby Letter of Credit to be opened fourteen (14) days prior to the first day of loading range Rangethrough a First Class International Bank acceptable to Sellers’ Agent/ Seller Principals and in a standard format acceptable to Sellers’ Agent/ Seller Principals.

6. Vessel : 1. 1. The Buyer shall have the right to nominateed the vessels Vessel to receive the Hai Thach Condensate, provided that the nominated Vessel are should be subject to acceptance by

Blocksby the Blocks 05-2 and 05-3 Operator.

2. AcceptableThe nominated vessels Vessel are is required to comply with and adhere to the regulations and condition of use contained in Bien Dong Terminal Regulations in effect at the Bien Dong Terminal.

3. In order to comply with the Bien Dong Terminal Regulations, 2. Vessel to accept EDP procedure. For operational and safety reasons, Terminal shall normally require that an Offtake Tankerthe Vessel to be required to depart upon the completion of its Hai Thach Condensate loading and before the which has completed its loading operations, shall depart prior to completion of all the following cargo documents, including but not limited to : (i) Bill(s) of lLading;, (ii) Certificate of oOrigin;, (iii) Cargo mManifest;, (iv) Certificate of qQuantity;, (v) Certificate of qQuality; and (vi) Tanker lLoading tTime rReport.

The Offtake TankerVessel Master shall produceprovide a written request for Early Departure Procedure (“EDP”) to the Blocks 05-2 and 05-3 OperatorTerminal Representative. The Offtake TankerVessel Master shall also issue a letter of authorization to the Vessel’s agent, with a copy to the Terminal Representative, authorizing the agent to sign Bill(s) of Lading and other cargo documents for and on behalf of the Offtake TankerVessel Master.

3. In case of bad weather, and the vessel Vessel to must be proceeded to Vung Tau Pilot Boarding Ground at the Buyer’s cost for the embarkation and (or)/or disembarkation if required by the Blocks 05-2 and 05-3 Operator Terminal due to unsafe weather conditions for in-field personnel

, 10/21/13,

What is meaning here?

transfer. Time and, the incurred costs to be for ship account. at Buyer’s cost.

7. Inspection : An mutually acceptableA mutually acceptable iIndependent iInspector will be appointed by the to verify the quantity and quality of Hai Thach cCondensate during the Loading Rangeloaded at the Bien Dong tTerminal and cost of the services of the the services of the such such iIndependent iInspector willshall beSellers’ Agent/ Seller Principals on behalf of the Buyer and Seller Principals with the cost being shared equally between the Buyer and the Sellers Principals.

8. Laytime: Seller Principals shall beThe allowed laytime is thirty-six (36) hours laytime within which to complete loading of a cargo of condensate.

9. Mooring : The Vessel shall be loadedload Hai Thach condensate from the FSO in tandem at Hai Thach Field or other safe location as weather and safe navigation permitting under Bien Dong Terminal Regulations.

10. Default: If the Buyer fails to take wholly or in part In case of of partly lifting or wholly non-lifting of the Hai Thach cCondensate as committedby Buyer or late arrival of Buyer’s Vessel out of delivery time, the Buyer shall forego the right to lift take the quantities of the Hai Thach condensate Condensate not liftedtaken. And in this case the and Buyer is also requested to pay to the Sellers shall pay the difference between the price stated in the Sales Contract on the last day of the agreed Loading Date Range and price realized by the Sellers Principals in disposing of the such Hai Thach condensate Condensatenot lifted, and all other consequential losses, expenses, costs and damages.

11. Arbitration & Law:

In accordance with tThe Rules of Vietnam International Arbitration Centre (“VIAC”) and the Law of the Socialist Republic of Vietnam shall be applied.

12. Other Terms and Conditions:

1. 1. The Other other Terms and Conditions of the Sales Contract shall be as per complete set of the Agreement comprising of Part I (Sales Contract of Hai Thach Condensate) and Part II (General Terms and Conditions for Sales Agreement of Hai Thach Condensate)

, 10/21/13,

Revise for easy understanding.

, 10/22/13,

PV OIL’s comments: We would suggest maintain this clause. “The Vessel shall be loaded from the FSO in tandem” is the standard nautical terms. In Vietnamese it means: Tàu sẽ được bốc hàng tại FSO theo kiểu cập mạn nối đuôi. BDPOC: the current wording is incorrect, please check with right people to correct it.

User, 10/21/13,

PV OIL comments: Appointment of Independent Inspector must be mutually agreed between Buyer and Seller in accordance with practice.

, 10/21/13,

What is meaning?

which is toshallwill be provided by the Sellers’ Marketing Agent to the Buyer your esteemed Company later.

2. 2. The Buyer is required shall to give priority prioritize to Sellers’ Agent to arrange the Vietnamese Companies by using their shipping and/or insurance services for the Cargo provided that it is competitive in terms of price and other major conditions. Such shipping and/or insurance arrangement shall be mutually agreed by Sellers’ Agent and Buyer.

13. Type of Bid: Irrevocable and unconditional.

14. Bid submissionProposal Requirements:

- - Type of Bid: Irrevocable and Unconditional.

- - Time of submission: From 09:00 hrs on 27th October 2013 to 09:00 hrs on 28th October 2013 (Vietnam time).

- - Validity of Bid: 18:00 hrs on 30th October 2013 (Vietnam time).

- - Means of submission: By facsimile to the number 84-8-39106983.

- - For the attention of Mr. Vo Khanh Hung, - Vice President, of PetroVietnam Oil Corporation. (PV OIL).

Note: Any bid Bid Proposal which does not meet the Bid submission Proposal requirements may be rejected.

15. Contact Detail: Please specify clearly in your the Bid Proposal: full name, office and hand phone number, email address for us to contact for further discussion (if any).

Should you need more information, please feel free to contact any of the following:

Ms. Pham Thi Kim OanhCrude Oil DivisionPetroVietnam Oil CorporationTel: (84-8) 3910 6990 Fax: (84-8) 3910 6980Email: [email protected]

Ms. Ngo Quynh AnhCommercial & Legal Team LeaderBien Dong Petroleum Operating CompanyTel: (84-8) 3824 5566Fax: (84-8) 3520 2999Email: [email protected]

Principals retain their right to withdraw this tender at any time without award, or to The The Sellers retain their right to withdraw and/or cancel this Bid Proposal Requirements

User, 10/21/13,

PV OIL’s comments: If BDPOC does not sign a contract, we suggest that BDPOC’s contact should not be inserted in Bid Requirements because it would make Buyer(s) confused.

mailto:[email protected]

mailto:[email protected]

at any time without the incurred cost to the Sellers decline to award after receiving offers to purchase per this tender, at their sole discretion for any reason.

User, 10/21/13,

PV OIL’s comments: We propose to delete this wording in its entirety

Documents

List of Approved Buyers Itb Bid Requirements-V2-Pv Oil Explanations