The Block B – O Mon gas-to-power value chain, representing a total investment of nearly $12 billion, has become the primary focal point of Vietnam’s energy sector as it transitions into full-scale construction in early 2026. Moving past the preparation stage, the project is now seeing simultaneous execution across its upstream, midstream, and downstream segments. In the upstream sector, domestic contractors in partnership with international firms are aggressively carrying out EPCI packages for the central processing and wellhead platforms at fabrication yards in Vung Tau. Project management remains focused on a tight schedule, with the target for “First Gas” set for late 2026 or no later than the first quarter of 2027.
In the downstream segment, the construction and conversion of the O Mon thermal power plants (I, II, III, and IV) in Can Tho are gaining momentum following the resolution of critical gas sales and power purchase agreement (GSA/PPA) frameworks. This mega-project is regarded as vital for the energy security of the Southwestern region, providing a reliable alternative as coal-fired power becomes increasingly restricted. For the broader technical services industry, the Block B development represents a generational opportunity, expected to generate a steady and high volume of work for the offshore service supply chain for at least the next two decades.
