Vietnam advances offshore gas project with development approval

(WO) - Jadestone Energy has secured government approval for the field development plan (FDP) covering the Nam Du and U Minh gas discoveries offshore Vietnam, marking a key step toward commercialization of the project.

The approval enables Jadestone to book initial 2P reserves of approximately 32 MMboe and advance discussions with potential farm-in partners. The development is expected to establish a new offshore gas production hub in southwest Vietnam, supporting domestic energy supply and long-term market demand.

“The FDP approval is a milestone achievement in the commercialization of the Nam Du / U Minh fields,” said Mitch Little, CEO of Jadestone Energy. “It allows us to book initial 2P reserves and move forward into the development phase.”

Front-end work is progressing, with tendering underway for major infrastructure components. The project is expected to generate local contract opportunities and contribute to government revenues over its lifecycle.

Jadestone also announced the appointment of Phil Cunningham as Vietnam Country Manager, bringing more than 30 years of upstream experience, including prior leadership roles in Southeast Asia.

The Nam Du–U Minh development aligns with Vietnam’s strategy to prioritize domestic gas resources, while offering additional exploration upside within existing licenses.