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Jadestone targets H2 2019 for Vietnam project FID

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Singapore-based company Jadestone Energy is targeting a final investment decision (FID) for a shallow water gas development located offshore Vietnam for the second half of 2019.

Jadestone has interests in several assets in Vietnam, including the interest in Block 46/07, which holds the Nam Du discovery.

Jadestone said on Wednesday it is continuing to progress the FEED, FDP technical studies, and negotiation of the pertinent commercial agreements, including the life-of-field gas sales and purchase agreement, associated with the Nam Du/U Minh gas developments in Vietnam.

The company has expanded the Nam Du/U Minh project management team, and it anticipates that this work will culminate in a final investment decision in H2 2019.

The Nam Du discovery is located within the Block 46/07 PSC on the north-eastern margin of the Malay-Tho Chu Basin, approximately 200 kilometers offshore Vietnam in a water depth of 47.9 meters.

Jadestone Energy has a 70% operated working interest in Block 46/07 PSC. The process of amending Block 46/07 for PetroVietnam’s relinquishment of its 30% interest and withdrawal from the blocks with effect from May 1, 2017, is continuing. This is expected to result in Jadestone having 100% operated working interest.

Jadestone also said on Wednesday that its infill drilling program for assets located offshore Western Australia would begin in 2019.


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