In the Decision No. 190/QĐ-TTg, issued on January 29th 2011, the Prime Minister has approved the Regulation of Petrovietnam’s Organization and Task. Petrovietnam has the main functions and tasks below:
a) Invest in subsidiaries and affiliates; control the subsidiaries following the percent of holding registered charter capital of Petrovietnam;
b) Implement petroleum activities and sign the petroleum contracts with the organizations, individuals operating in petroleum fields based on Petroleum Law; manage and supervise the petroleum/hydrocarbon exploration and production activities following contracts with petroleum contractors and subsidiaries, organizations and other individuals;