US Operator Finds Oil Offshore Vietnam

U.S. oil firm Murphy Oil Corporation has made an oil discovery at the Hai Su Vang-1X exploration well in the Cuu Long Basin, offshore Vietnam.

Murphy Oil’s subsidiary Murphy Cuu Long Tay Oil drilled the well at Block 15-2/17, located 40 miles offshore.

The well was drilled to total depth of 13,124 feet in 149 feet of water.

Hai Su Vang-1X encountered approximately 370 feet of net oil pay from two reservoirs, according to the company.

Additional evaluation is ongoing and future appraisal drilling will be conducted.

Hai Su Vang is one of multiple exploration prospects that Murphy has identified in the basin. The findings announced today could form the basis for future development of the Hai Su Vang field.

“I am pleased with the success of the Hai Su Vang-1X exploration well. This discovery adds further upside to our current Vietnam business. We look forward to working with our partners as we continue evaluating the results,” said Eric Hambly, President and Chief Executive Officer.

Murphy Cuu Long Tay Oil is the operator of the block with 40% working interest. PetroVietnam Exploration Production Corporation holds 35% working interest and SK Earthon holds the remaining 25%.

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