UK Jadestone Energy submits field development plan for gas fields offshore Vietnam

Jadestone Energy, upstream production and development company listed on the London Stock Exchange as JSE, has submitted a field development plan (FDP) for the Nam Du/U Minh discoveries offshore southwest Vietnam.

In a Tuesday statement, Singapore-headquartered Jadestone Energy said it has submitted the FDP to state-owned Petrovietnam, part of the regulatory approval process.

The next steps in the development process include finalizing the gas sales agreement, which is well advanced with the gas buyer, with the heads of agreement agreed in January 2024.

A financing plan, which could involve bringing in development partners, would be progressed in parallel with major contract tenders, with both finalized prior to project final investment decision (FID) and any significant expenditure, Jadestone Energy clarified.

The FDP contemplates drilling two wells from each platform to support a plateau rate of 80 million standard cubic feet per day (MMscf/d). Following receipt of Petrovietnam’s endorsement, the FDP will be considered for approval by the Ministry of Industry and Trade, Jadestone Energy added.

The FDP sets out a phased development concept for Nam Du/U Minh, which is based on unmanned wellhead platforms at each of the Nam Du and U Minh fields tied back to an floating production, storage and offloading (FPSO) facility.

Processed gas can be exported onshore through a 34-kilometer pipeline tied into an existing trunkline to the Ca Mau industrial complex in Ca Mau province, southwest Vietnam.

Jadestone Energy aims to conduct drilling activities in June 2026, the firm said in 2024.

Nam Du-U Minh gas field, offshore Vietnam east of the Malay-Tho Chu basin, covering 4,677 square kilometers with a depth of 50 meters, features Nam Du gas field in Block 46/07 and U Minh gas field in Block 51.