Perenco Vietnam has executed a gas sales agreement for the Su Tu Trang Phase 2B project, securing long-term supply for the region. The offshore development will significantly bolster local energy security and deliver substantial daily output by 2028 following recent contract extensions.
According to official disclosures, Perenco Vietnam, an energy exploration and production operator, has executed a gas sales and purchase agreement for the Su Tu Trang Phase 2B development on Block 15-1. This milestone follows a 2025 production sharing contract renewal that extended its strategic partnership with state-owned entities Petrovietnam and PVEP for another 25 years.
The offshore project is engineered to produce up to 150 million standard cubic feet of gas daily, requiring brownfield upgrades, the deployment of a new central processing platform, and the drilling of 15 wells. Initial output is scheduled for June 2026, reaching maximum capacity by mid-2028. Over its operational lifespan, the field will yield more than 600 billion cubic feet of natural gas.
This development is critical for addressing escalating power requirements across southeastern Vietnam. By securing a reliable domestic fuel source, the initiative directly supports national energy security objectives and reduces reliance on imported fuels.
For the regional energy sector, the agreement signals continued investor confidence in Vietnam’s offshore hydrocarbon assets. The substantial infrastructure investment will stimulate local engineering markets, while the long-term supply commitment provides downstream utilities with the pricing stability needed to plan future power generation capacity.
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