Murphy Oil Corp expects the first oil from the Lac Da Vang field in Block 15-1/05 in the Cuu Long Basin, offshore Vietnam, in 2026, the U.S. company said.
The firm's board of directors have sanctioned the development of the project, where the company holds a 40% working interest, it said in a statement on Thursday.
The field has an estimated ultimate recovery of 100 million barrels of oil equivalent, it said.
(Reuters - Reporting by Khanh Vu)
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