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Jadestone Energy PLC announced on Wednesday that the Vietnamese government has approved the field development plan for its Nam Du and U Minh gas discoveries offshore of southwest Vietnam. ‘The FDP approval is a milestone achievement in the commercialisation of the Nam Du/U Minh fields,’ said T. Mitch Little, chief executive officer of Jadestone. ‘I would like to thank all of our stakeholders in Vietnam for their leadership on this project approval.’ The Singapore-based oil and gas exploration and production company will seek to establish an offshore production hub for an estimated 32 million barrels of oil equivalent at the site. In preparation for the development phase in Vietnam, Jadestone announced the appointment of Phil Cunningham to Vietnam country manager. Cunningham, former managing director for TotalEnergies’ Italy unit, brings ‘over 30 years’ experience in the upstream industry, including positions of increasing seniority with some of the world’s largest upstream companies.’ The company says its field development plan will ‘result in significant contract awards to local Vietnam companies and generate substantial government revenues’. The project will function in support of Vietnam’s strategic plan for economic growth and energy security, Jadestone added. Shares in Jadestone closed up 3.6% at 28.5 pence in London on Wednesday. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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