Murphy upbeat on latest well on Hai Su Vang oil discovery offshore Vietnam
Murphy Oil Corp. has delivered strong results from an appraisal well on its Hai Su Vang (Golden Sea Lion) oil discovery offshore southern Vietnam.
The Hai Su Vang-2X (HSV-2X) well was spudded last October on Block 15-2/17 in the Cuu Long Basin, which is about 40 miles offshore Vietnam. The initial discovery (HSV-1X), drilled earlier in 2025, encountered 429 ft of net oil pay across the same two reservoirs, comprising 332 ft of net pay in the deeper primary reservoir and 97 ft in the shallow reservoir.
Within the primary reservoir, HSV-2X appraisal well deepened the proven oil-down-to by 413 ft without encountering water, extending the total hydrocarbon column to about 1,600 ft.
Evaluation of the formation, Murphy added, supports the case for reservoir continuity to the discovery well. Within the primary reservoir, HSV-2X delivered 6,000 bbl/d of oil during flow testing, also achieving a facility-constrained flow rate of 10,000 bbl/d.
And the good-quality, 37° API oil was consistent with results from the discovery well. Testing continues.
Murphy has now upgraded the mid-point for recoverable resources for the primary reservoir toward the high end of its previous range, at above 430 MMboe. Results from the shallow reservoir also indicate recoverable resource upside.
However, further appraisal wells will be needed to refine the recoverable estimates for both reservoirs.
Once HSV-2X operations are completed, delineation of the field and assessment of further intervals will continue this year with the HSV-3X appraisal well in Block 15-1/05 and the HSV-4X well in Block 15-2/17.
Other partners in the two blocks are PetroVietnam Exploration Production Corp. and SK Earthon.
Murphy also revealed in its latest presentation to investors that the LDV-A platform has been installed on the Lac Da Vang (Golden Camel) Field offshore Vietnam, with the first development well spudded in fourth-quarter 2025.
The company is targeting first oil toward the end of this year, with development continuing through 2029. Lac Da Vang contains an estimated 100 MMboe recoverable.