Fossil Energy – Gas Discoveries
Jadestone Energy announced that the Government of Vietnam has approved the Field Development Plan (FDP) for the Nam Du and U Minh gas discoveries, located offshore southwest Vietnam.
The approval marks a significant milestone in advancing the commercial development of the Nam Du and U Minh fields, which are estimated to contain approximately 32 million barrels of oil equivalent. Jadestone intends to establish an offshore production hub to support the development of these resources.
“The FDP approval represents a major step forward in the commercialisation of the Nam Du and U Minh fields,” said T. Mitch Little, Chief Executive Officer of Jadestone Energy. “We extend our sincere thanks to all of our stakeholders in Vietnam for their leadership and support in achieving this important milestone.”
In preparation for the development phase, Jadestone has appointed Phil Cunningham as Vietnam Country Manager. Mr. Cunningham brings over 30 years of experience in the upstream oil and gas sector, including senior leadership roles at major international energy companies, most recently serving as Managing Director of TotalEnergies’ operations in Italy.
Jadestone expects the project to deliver meaningful economic benefits, including significant contract opportunities for local Vietnamese companies and substantial revenues for the government.
The development is also aligned with Vietnam’s broader strategic objectives of supporting economic growth and enhancing national energy security.
