Perenco Vietnam and its partners in Block 15-1 have signed a new Production Sharing Contract (PSC) with the Socialist Republic of Vietnam, marking the beginning of a new 25-year chapter for the group in the country.
This key milestone enables Perenco to approve the Final Investment Decision for the flagship Phase 2B development project of the Su Tu Trang gas and condensate field, which aims to deliver 125 million standard cubic feet of gas per day over a period of seven years to support Vietnam’s rapidly growing domestic market.
“We are deeply grateful to the Socialist Republic of Vietnam, Petrovietnam, and PVEP for their renewed trust, 13 years after the Group’s entry into the country,” Perenco Vietnam said in a news release. “This recognition reflects Perenco’s proven expertise in the redevelopment and optimization of mature fields and its role as partner of choice for the states we operate in.”
About Perenco Vietnam
Perenco has been operating in Vietnam since 2012 and plays a major role in securing the country’s supply of oil and natural gas required for its ongoing development. Perenco Vietnam is instrumental in Block 15-1, the second largest oil and gas block in Vietnam and holds a participation in the Nam Con Son pipeline.
