Murphy Oil takes its FID on Vietnam project

Murphy Oil takes FID on Vietnam project


HANOI, November 3, 2023 – Murphy Oil has made its FID on the Lac Da Vang hydrocarbons project in Vietnam, the company announced in its third quarter results on Thursday.

The development will involve an offshore processing platform and a leased FSO.


The company is targeting first oil in 2026 and has planned developments at the site phased until 2029.

The field has estimated reserves of 100 million boe with peak production projected at 30 million-40 million boepd.

Murphy Oil is the operator of Block 15-1/05 situated on the Cuu Long Basin with a 40% take. It works alongside partners PetroVietnam E&P with a 35% share and SK Energy with a 25% share.

The company announced net income of USD 255 million in Q3 2023.