The Vietnamese state-owned energy group PetroVietnam has signed several oil and gas agreements for blocks located in the South China Sea (Vietnam Plus, 20/06/2026). It includes production sharing contracts (PSCs) for offshore Blocks 10/11 and 10&11-1, as well as a gas sales and purchase agreement (GSPA) for Phase 2B of the Su Tu Trang (White Lion) gas field in Block 15-1.
The PSCs for Blocks 10/11, 10&11-1, located in the Nam Con Son Basin, were signed between Petrovietnam and its upstream affiliate Petrovietnam Exploration Production Corporation (PVEP), which will serve as the project developer.
In addition, the company signed a gas sales and purchase agreement for Phase 2B of the Su Tu Trang field in Block 15-1, situated in the Cuu Long Basin, with partners including PVEP, Perenco, Korea National Oil Corporation (KNOC), SK Earthon (SKEO) and Geopetrol. The project should produce 1.2 bcm/year of natural gas, with first gas expected by end-2027.