Perenco Vietnam, a notable subsidiary of the Anglo-French oil and gas player Perenco, has recently made headlines by signing a significant gas sales and purchase agreement (GSPA) for an ambitious project off the coast of Vietnam, Southeast Asia.
The GSPA pertains to the Su Tu Trang Phase 2B project, strategically located in Block 15-1, offshore Vietnam. This initiative is poised to supply over 600 billion cubic feet (bcf) of gas during its operational lifespan, effectively addressing the burgeoning energy demands in Southeast Vietnam and significantly bolstering the nation’s energy security.
In terms of capacity, the project has been designed to deliver a maximum of 150 million standard cubic feet per day (scfd) of gas. This endeavor involves comprehensive brownfield modifications, the construction of a new central gas facility (CGF) platform, and the drilling of up to 15 gas wells. Excitingly, the first gas is expected to flow by June 2026, with full production rates anticipated by June 2028.
The signing of the GSPA symbolizes an important milestone in the ongoing development of Block 15-1. This comes on the heels of the renewal of the production sharing contract (PSC) in 2025, which extended its strategic partnership with Petrovietnam and PVEP for an additional 25 years. This long-term commitment underscores the importance of collaboration in the energy sector, ensuring sustainable and mutually beneficial outcomes for all parties involved.
Block 15-1 holds the distinction of being the second-largest oil and gas block in Vietnam. Besides its significant gas project, Perenco also plays a notable role in the Nam Con Son pipeline, further solidifying its position within the regional energy landscape.
The recent gas agreement in Southeast Asia comes shortly after Perenco successfully restarted production from the Davy gas field in the Southern North Sea, marking a noteworthy resurgence five years after the output was halted. This juxtaposition of activities highlights Perenco’s proactive approach in navigating complex energy markets and its commitment to sustainable energy solutions.
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