“U.S. producer Murphy Oil’s latest estimate of recoverable oil reserves in Vietnam’s Hai Su Vang potentially positions it as the largest oil find in Southeast Asia over the last two decades, according to an analysis by energy consultancy Wood Mackenzie released on Wednesday.”
” ‘The updated midpoint of recoverable resources for the primary reservoir is towards the high end of our previously communicated range of 170 to 430 million barrels of oil equivalent [MMBOE], and the high end of the new range now exceeds 430 MMBOE. Additionally, results from the shallow reservoir provide recoverable resource upside not included in the previously communicated range,’ Murphy Oil said.”
“Wood Mackenzie estimates Murphy’s Hai Su Vang to be the third largest oil discovery in Southeast Asia since 2000, after Banyu Urip in Indonesia (discovered in 2001) and Gumusut in Malaysia (discovered in 2003), it said in a statement.”
“Once a net exporter of crude oil, Vietnam in 2017 became a net importer of the product for the first time to feed its increasing refining capacity, Reuters had reported.”
“In 2025, the country imported 14.2 million metric tons of oil worth $7.7 billion, of which 11.3 million metric tons came from Kuwait, according to the country’s customs data.”