Signing of Heads of Agreement (HOA) for Nam Du and U Minh Gas Fields Development
On January 25, 2024, the signing ceremony of the Heads of Agreement for the purchase and sale of the Nam Du - U Minh gas fields development took place between Petrovietnam Gas Corporation (PV GAS), Jadestone Energy (JSE), and Vietnam Oil and Gas Group (Petrovietnam).
Present at the signing ceremony from Petrovietnam were Mr. Tran Binh Minh - Member of the Board of Members (BOM), Mr. Bui Minh Tien - BOM Member, and Mr. Le Ngoc Son – Vice President.
Representing PV GAS were Mr. Nguyen Thanh Binh - Chairman of the Board of Directors, Dr. Pham Van Phong – CEO & President, and Mr. Huynh Quang Hai – Vice President.
Attending the ceremony on behalf of Jadestone Energy (JSE) were Mr. Michael Horn – Executive Vice President, Corporate and Business Development, and Mr. James Borras – Vietnam General Director.
The HOA for Nam Du and U Minh gas fields development
Nam Du and U Minh gas fields are located in blocks 46 / 07 and 51 respectively, on the eastern edge of the Malay - Tho Chu basin, offshore Vietnam.
Approved by the Prime Minister for gas reserves in 2015-2016, the Nam Du - U Minh fields are expected to provide approximately 5.6 billion cubic meters of gas to the Southwest region of Vietnam during the stabilization phase. The entire supply from the fields will be linked into the existing PM3-CAA pipeline system to Ca Mau Gas-Power-Fertilizer complex of Petrovietnam, contributing to ensuring energy sand food security for the province and the Southwest region as a whole.
Based on the signed HOA, PV GAS, JSE, and Petrovietnam will expedite negotiations, aiming to finalize the Purchase and Sale Agreement for the Nam Du - U Minh gas fields.