Jadestone Energy, an oil and gas development company based in Singapore, has submitted a proposal to PetroVietnam, the state-run oil company, to jointly develop two offshore gas fields in southwest Vietnam, the company announced on Tuesday.
The plan involves drilling two wells in the Nam Du and U Minh fields to support a steady gas production rate of 80 million standard cubic feet per day, according to Jadestone’s statement.
By developing these fields, Jadestone said Vietnam could reduce its reliance on costly liquefied natural gas imports in the future.
The gas would be processed at a floating production, storage, and offloading unit before being transported through a 34-kilometre (21-mile) pipeline to the Ca Mau industrial complex.
This project would be Jadestone’s first venture into Vietnam, though the company has operations in Southeast Asia and Australia. While the company did not specify a timeline for gas production, it is working to finalize a gas sales agreement with an undisclosed buyer.
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