Murphy finds more oil offshore southern Vietnam
Murphy Oil has discovered oil with the CM-1X well in the Nam Con Son basin offshore southern Vietnam.
EL DORADO, Arkansas – Murphy Oil has discovered oil with the CM-1X well in the Nam Con Son basin offshore southern Vietnam.
The company will continue to assess the commercial potential of the block, which includes the successful CT-1X discovery well drilled in 2Q.
In Vietnam’s offshore Cuu Long basin, Murphy is working with its partners on the block 15-1/05 LDV discovery for a declaration of commerciality in 2018, and also plans a nearby exploration well, while continuing to pursue entry into the adjacent 15-2/17 block.
During 3Q, the company entered into a farm-in agreement with Queiroz Galvão Exploração e Produção (QGEP) to acquire a 20% interest in blocks SEAL-M-351 and SEAL-M-428 in the deepwater Sergipe-Alagoas basinoffshore Brazil.
In a separate but related transaction, ExxonMobil Exploração Brasil has farmed into the remaining 50% interest as the operator (QGEP retains 30%).
In addition, Murphy and its co-venturers were the high bidder for the adjacent blocks SEAL-M-501 and SEAL-M-503 in Brazil’s Round 14 lease sale. ExxonMobil will operate, and each company will maintain the same working interest in each of these blocks.
Offshore Mexico, Murphy has been working through the permitting process for the first exploration well in deepwater block 5 and is reviewing reprocessed wide azimuth seismic data across the acreage.