More black gold for Murphy offshore Vietnam

Houston-based oil and gas company Murphy Oil has found oil in the Cuu Long Basin offshore Vietnam.

According to the U.S. firm’s Q1 2025 Earnings Results, an oil discovery was made at the Lac Da Hong (Pink Camel) field in Block 15-1/05 offshore Vietnam. The field is operated by Murphy (40%), with partners PetroVietnam Exploration Production (35%) and SK Earthon (25%). The nearby developments Lac Da Vang (Golden Camel) in Block 15-1/05 and Hai Su Vang (Golden Sea Lion) in Block 15-2/17 have the same shareholding structure.

“I am excited to announce today a second oil discovery in Vietnam at the Lac Da Hong-1X (Pink Camel) exploration well. This discovery enhances the value of Murphy’s growing Vietnam business when coupled with our nearby Lac Da Vang (Golden Camel) development and our recent Hai Su Vang (Golden Sea Lion) discovery,” said Eric M. Hambly, Murphy Oil’s President and Chief Executive Officer (CEO).

After drilling the Lac Da Hong-1X exploration well, Murphy says 106 feet of net oil pay was encountered from one reservoir, drilled in 151 feet of water. Preliminary mean-to-upward gross resource potential is said to total 30– 60 million barrels of oil equivalent (mmboe).

A maximum flow rate of 2,500 barrels of oil per day (bopd) was achieved during the drill stem test (DST). Testing showed high-quality oil with an API gravity of 38 degrees and the firm says it is evaluating optimal development concepts for the project.

Murphy has also provided an update on the other two developments in Vietnam, Hai Su Vang and Lac Da Hong. First oil at both is targeted late in the decade.

A rig contract for development drilling at Lac Da Vang was signed in Q2 2025, with drilling expected to kick off in the last quarter of this year. The construction of a floating storage and offloading (FSO) vessel started in Q1 2025, with first oil targeted in 4Q 2026, and development through the financial year 2029.

Furthermore, appraisal of oil discovery is continuing at the Hai Su Vang project. In January 2025, the U.S. player found oil in the Hai Su Vang-1X well, when 370 feet of net oil pay was encountered from two reservoirs drilled in 149 feet of water. High-quality, 37-degree API oil was found, and a facility-constrained flow rate of 10,000 bopd was achieved. Murphy now plans to drill the Hai Su Vang-2X appraisal well in 3Q 2025.