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Vietnam Gas Sales Agreement Signed
Jadestone Energy PLC has signed a Gas Sales and Purchase Agreement for gas from the Nam Du/U Minh discoveries offshore Vietnam, with production targeted for late-2028. The agreement with PV Gas includes a daily contract quantity of 80 MMscf/d, approximately 13,000 boe/d gross, with a take-or-pay clause of 90% of the DCQ, equating to around 26 Bscf annually during the plateau period. The fields hold audited gross 2P reserves of 32 MMboe and an estimated 1.5 trillion cubic feet of gross unrisked gas in place, with potential for further upside. The company is focused on progressing towards project execution, with bid evaluations for the FPSO and field infrastructure planned for the second half of the year. Disclaimer*
About this update from Jadestone Energy Plc
Vietnam Gas Sales Agreement Signed 20 April 2026 - Singapore: Jadestone Energy plc (AIM:JSE) (the "Company" and together with its subsidiaries, "Jadestone" or the "Group"), an independent upstream production and development company focused on the Asia-Pacific region, is pleased to announce the signing of the Gas Sales and Purchase Agreement ("GSPA") for the supply of gas from the Nam Du / U Minh discoveries offshore Vietnam. T. Mitch Little, Chief Executive Officer of Jadestone, commented: "The execution of this agreement is a pivotal moment for Jadestone. After years of dedicated effort, we are now in a position to deliver the Nam Du/U Minh development, which will materially strengthen our portfolio while supporting our growth ambitions. With all key commercial and technical approvals now in place, and recent key hires into the Jadestone Vietnam project delivery team, we are now focused on rapidly progressing towards the project execution phase. Our near-term priorities are to conclude the bid evaluation for the FPSO and field infrastructure, and award their respective contracts during the second half of this year. We thank all of our stakeholders in Vietnam for supporting the recent progress on Nam Du/U Minh, and we look forward to working with them to deliver the development safely and efficiently. Over the project life, we expect that the development and production phases will generate significant local employment opportunities, material contract awards to local Vietnam companies, and hundreds of millions of dollars in government revenues. The Nam Du/U Minh project also supports Vietnam's strategic plan and net zero ambitions, prioritizing sovereign resources to enhance Vietnam's energy security and economic growth alongside the transition to lower emitting sources of fuel." Nam Du/U Minh GSPA The Nam Du/U Minh discoveries are located offshore southwest Vietnam in shallow waters, with production targeted to commence in late-2028, as per the approved field development plan previously announced on 18 March 2026. The finalized GSPA sets out the terms on which gas will be supplied from the Nam Du/U Minh fields offshore Vietnam to PV Gas, a subsidiary of Petrovietnam, the state-owned national energy industry group of Vietnam. Key elements of the GSPA include: ·  ...
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