Jadestone Energy submits plan to develop offshore gas fields in Vietnam
18/03/2025 09:34
March 18 (Reuters) - Singapore-based oil and gas development company Jadestone Energy PLC JSE.L has submitted a plan to state-controlled PetroVietnam to jointly develop two offshore gas fields in southwest Vietnam, it said on Tuesday. The proposal includes drilling two wells in the Nam Du and U Minh fields to support a plateau gas production rate of 80 million standard cubic feet a day, Jadestone said in a statement. Development of the Nam Du and U Minh gas fields would lessen Vietnam’s future dependence on expensive liquefied natural gas imports, Jadestone said separately on its website. The gas will be tied to a floating production, storage and offloading unit (FPSO), where it would be processed and exported onshore through a 34 km (21 mile) pipeline to the nearby Ca Mau industrial complex. Jadestone has operations across Southeast Asia and Australia. This project would mark its first foray into Vietnam. The company did not provide a timeline for gas production, but said it was aiming to finalise a gas sales agreement with a buyer, which it did not identify. (Reporting by Michele Pek; Editing by Florence Tan and Rachna Uppal) ((michele.pek@thomsonreuters.com;))