(WO) — Perenco Vietnam has signed a Gas Sales and Purchase Agreement (GSPA) for the Su Tu Trang Phase 2B development on Block 15-1 offshore Vietnam, marking a key milestone for a project expected to supply more than 600 Bcf of natural gas over its producing life.
Located offshore Southeast Vietnam, the project is designed to deliver up to 150 MMscfd of gas to support growing domestic energy demand and strengthen the country’s long-term energy security.
The Phase 2B development will include brownfield modifications to existing infrastructure, installation of a new Central Gas Facility (CGF) platform and the drilling of up to 15 gas wells.
The agreement follows the 2025 renewal of the Block 15-1 Production Sharing Contract, which extended the partnership between Perenco, Petrovietnam and PetroVietnam Exploration Production Corporation (PVEP) for an additional 25 years.
Perenco said the project is expected to reach a production plateau by June 2028, with development activities progressing across the offshore block.
The signing ceremony was attended by senior Vietnamese government officials, including the country’s Vice Prime Minister, Minister of Industry and Trade, and Deputy Minister of Finance.
Block 15-1 has been one of Vietnam’s most prolific offshore producing areas and remains a key contributor to the country’s oil and gas sector. The Su Tu Trang Phase 2B development is expected to play an important role in meeting future gas demand in southern Vietnam as the country seeks to expand domestic energy supplies.
The project adds to ongoing investment in Southeast Asia’s offshore gas sector, where operators continue to advance developments aimed at supporting regional energy security and reducing reliance on imported fuels.
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