Jadestone Energy submits FDP for offshore Vietnam asset development

• Jadestone submitted a field development plan (FDP) for the Nam Du/U Minh discoveries.
• The FDP calls for drilling two wells from each platform to support a plateau rate of 80 MMscfd.

Jadestone Energy PLC submitted a field development plan (FDP) to Petrovietnam for the Nam Du/U Minh (NDUM) discoveries on Block 46/07 and Block 51 offshore southwest Vietnam.

The discoveries contain Nam Du and U Minh fields in 50-60 m of water. The FDP sets out a phased development concept for NDUM which is based on unmanned wellhead platforms at each of the fields tied back to an FPSO. Processed gas will be exported onshore through a 34-km pipeline tied into an existing trunkline to the Ca Mau industrial complex in southwest Vietnam. 

The FDP will drill two wells from each platform to support a plateau rate of 80 MMscfd. The first phase of the FDP envisages Nam Du field initially being brought onstream, accelerating first gas to Vietnam and revenues to Jadestone to help fund the development of U Minh production in the second phase. 

Nam Du and U Minh have been independently assessed to contain gross aggregate 2C resources of 171.3 bcf of gas and 1.6 million bbl of liquids.

Following receipt of Petrovietnam’s endorsement, the FDP will be considered for approval by the Ministry of Industry and Trade.

Jadestone is operator with 100% interest in Block 46/07 and Block 51.