Perenco pens gas deal for Southeast Asian offshore project

June 25, 2026, by Melisa Cavcic

Perenco Vietnam, part of Anglo-French oil and gas player Perenco, has inked a gas sales and purchase agreement (GSPA) for a project off the coast of Vietnam, Southeast Asia.

Perenco hits decommissioning milestone in Southern North Sea despite 'challenging conditions' — Illustration; Source: Perenco

Perenco has signed the GSPA for the Su Tu Trang Phase 2B project on Block 15-1 offshore Vietnam, which will supply more than 600 billion cubic feet (bcf) of gas over its life, supporting growing energy demand in Southeast Vietnam and contributing to the country’s energy security.

Designed to deliver up to 150 million standard cubic feet per day (scfd) of gas, the project encompasses brownfield modifications, the installation of a new central gas facility (CGF) platform, and the drilling of up to 15 gas wells. While the first gas is expected in June 2026, the full rate plateau is planned for June 2028.

The GSPA is said to mark a major milestone in the continued development of Block 15-1, following the renewal of the production sharing contract (PSC) in 2025, which extended the strategic partnership with Petrovietnam and PVEP for a further 25 years.

Block 15-1 is described as the second-largest oil and gas block in Vietnam. Perenco also holds a participation in the Nam Con Son pipeline.

The gas deal in Southeast Asia comes shortly after the firm restarted production from the Davy gas field in the Southern North Sea, more than five years after the output was shut in.