“In January 2026, Murphy Oil [U.S.] announced that appraisal drilling had successfully expanded estimated recoverable reserves at the field to more than 430 million barrels of oil equivalent. Executives described Hai Su Vang as the most significant oil and gas discovery in Southeast Asia in the past 20 years.” “Regarding the Lac Da Vang (Golden Camel) field development in Block 15-1/05, the firm made inroads in the construction of a floating storage and offloading (FSO) vessel in the Southeast Asian country. The FSO is now ready to launch and is set to be delivered to the location in Q3/2026 in line with the schedule. The project is on track for first oil in Q4 this year.” “Murphy forecasts average production from Vietnam at roughly 500 barrels of oil equivalent per day (BOE/D) in 2026, before ramping up significantly. Peak output from Lac Da Vang is expected to reach between 10,000 and 15,000 BOE/D during 2028-2029.” “In its report, the firm revealed that it spent about $39 million in Vietnam during Q1, including $24 million for development of Lac Da Vang and $15 million for appraisal drilling activities. For full-year 2026, Vietnam is expected to account for around 16% of Murphy’s planned global capital expenditure budget of $1.25 billion, equivalent to roughly $200 million.”
https://theinvestor.vn/murphy-oil-bets-on-vietnam-growth-as-offshore-projects-advance-d19063.html