Murphy Oil plans $110 mln investment in 2025 offshore activities in Vietnam
The U.S.-headquartered Murphy Oil Corporation is set to allocate $110 million of capital expenditure (CAPEX) for offshore operations in Vietnam in 2025, the firm said on Thursday.
In its Q4/2024 performance review, Murphy Oil noted the figure includes $20 million for Lac Da Vang development drilling and $90 million designated for Lac Da Vang field development activities.
Lac Da Vang oilfield is located in Block 15-1/05 of the Cuu Long Basin offshore southern coast of Vietnam.
The investment in Vietnam accounted for a small portion of Murphy Oil’s total capex of $1.21 billion in 2025.
Murphy Oil headquarters in Texas, the United States. Photo courtesy of Murphy Oil.
For exploration activities in 2025, Murphy Oil will allocate $145 million, including Lac Da Hong-1X exploration well and a Hai Su Vang appraisal well in Vietnam, in addition to two activities in the Gulf of Mexico and one in Cote d’Ivoire.
Last month, Murphy Oil announced that it drilled an oil discovery at the Hai Su Vang-1X exploration well offshore southern Vietnam, encountering about 370 feet of net oil pay from two reservoirs. The move was conducted in Block 15-2/17 of Hai Su Vang-1X exploration well, Cuu Long Basin, 40 miles offshore Vietnam, Murphy Oil added.
In its Q4/2024 review, Murphy Oil stated that it achieved a facility-constrained flow rate of 10,000 barrels of oil per day (BOPD) from Hai Su Vang-1X well.
“When you have a well at 13,000 ft that can flow 10,000 barrels a day in shallow water, that's a really strong, it's really indicative of a high-quality reservoir,” said Murphy Oil CEO-president Eric Hambly.
- Related News
- Read More
Foreign-backed Arque Degi to build $322 mln floating tourism-urban projects in central Vietnam
Authorities in Gia Lai province have granted an investment certificate to Arque Degi JSC to develop three floating tourism-urban projects worth a combined VND8.5 trillion ($322.42 million) in the De Gi lagoon area.
Real Estate - Sat, November 29, 2025 | 8:00 am GMT+7
Indonesia eyes trilateral data-center tie-up with Singapore, Malaysia
Indonesia is in talks with Singapore and Malaysia to develop a cross-border data-center network linked to its Green Super Grid.
Southeast Asia - Fri, November 28, 2025 | 9:57 pm GMT+7
Malaysia’s export growth expected to slow in 2026
Despite Malaysia’s trade growth in October 2025 surpassing expectations, with both exports and imports reaching record levels, economists warned that the country’s export expansion may slow in 2026.
Southeast Asia - Fri, November 28, 2025 | 9:53 pm GMT+7
Singapore promotes methanol use for bunkering
The Maritime and Port Authority of Singapore (MPA) will issue licences to supply methanol as marine fuel in the Port of Singapore from January 1, 2026, following the Call for Applications launched in March 2025.
Southeast Asia - Fri, November 28, 2025 | 9:46 pm GMT+7
Vietnam's tour operator Vietravel announces full exit from Vietravel Airlines
Vietravel, one of Vietnam’s largest tour operators, will divest its entire stake in Vietravel Airlines by year-end, drawing a close to its turbulent venture into aviation during five years.
Travel - Fri, November 28, 2025 | 9:22 pm GMT+7
VinSpeed, Thaco vie for investment role in North-South high-speed railway
Several major Vietnamese companies, including Vingroup subsidiary VinSpeed and automaker Thaco, are vying for a role in Vietnam’s gigantic North-South high-speed railway project.
Infrastructure - Fri, November 28, 2025 | 5:14 pm GMT+7
Finnish fund PYN Elite raises VN-Index forecast to 3,200 points
PYN Elite (Finland), one of the largest foreign funds in the Vietnamese stock market, has revised up its forecast for the benchmark VN-Index to 3,200 points, much higher than the 1,690.99 recorded on Friday.
Finance - Fri, November 28, 2025 | 4:49 pm GMT+7
Mind the gap
Without stronger digital and physical networks, global productivity will falter at precisely the moment the world needs new engines of growth, writes Benjamin Hung, president, International, Standard Chartered.
Consulting - Fri, November 28, 2025 | 3:49 pm GMT+7
Alliance claiming $100 bln investment for trans-Vietnam high-speed railway 'uncontactable'
An alliance between Mekolor, a relatively unknown Vietnamese company, and American entity Great USA, which claimed it could mobilize $100 billion for the North-South high-speed railway project, could not be contacted, said standing Deputy Prime Minister Nguyen Hoa Binh.
Infrastructure - Fri, November 28, 2025 | 3:19 pm GMT+7
Mitsui eyes new opportunites in Vietnam's energy sector, projects related to carbon emission reduction
Mitsui & Co., Ltd. plans to expand its investment in Vietnam in the energy sector and projects related to carbon emission reduction, president and CEO Kenichi Hori told Prime Minister Pham Minh Chinh at a Thursday meeting in Hanoi.
Industries - Fri, November 28, 2025 | 2:39 pm GMT+7
Russian heavyweight Zarubezhneft seeks to build energy center in Vietnam
Zarubezhneft, a wholly state-owned oil & gas group of Russia, wants to develop an energy center in Vietnam, as it seeks to expand into other fields including energy and minerals.
Energy - Fri, November 28, 2025 | 1:08 pm GMT+7
Carlsberg Vietnam accelerates its path toward net-zero emission in production by 2028 with stronger renewable-energy commitments
As Vietnam advances toward its 2050 net-zero vision, businesses are expected to play a decisive role in enabling the country’s green transition. At the Green Economy Forum 2025, Carlsberg Vietnam shared how a long-standing FDI enterprise is reshaping its operations and energy strategy to align with Vietnam’s sustainability goals.
Companies - Fri, November 28, 2025 | 11:52 am GMT+7
PV Power says profit may fall in 2026 despite higher output due to extreme weather
PV Power (HoSE: POW), a subsidiary of state-owned energy giant Petrovietnam, expects electricity output to rise next year, but says profit may decline from this year’s strong results due to increasingly erratic weather conditions.
Companies - Fri, November 28, 2025 | 9:00 am GMT+7
Decoding the attraction of 'A.I Real Combat' contest broadcast on Vietnam Television
Vietnam’s first national artificial intelligence competition, 'A.I Thực chiến' (A.I Real Combat), aired its opening round at 8 p.m. Wednesday on state broadcaster VTV2, with a rebroadcast on VTV3 two days later.
Companies - Thu, November 27, 2025 | 8:17 pm GMT+7
Foxconn Industrial Internet’s Vietnam revenue jumps 83% on automation, digitalization: CEO
Foxconn Industrial Internet (FII), a unit of Taiwanese electronics giant Foxconn, saw revenue from its new-technology applications in Vietnam rise 83% in the past fiscal year while headcount increased only 20%, driven by automation and digitalization.
Companies - Thu, November 27, 2025 | 4:56 pm GMT+7
SHB bank sees development drivers from capital-raising strategy, opportunities to attract foreign inflows
The upcoming capital-hike strategy is expected to position Saigon-Hanoi Bank (SHB) among the Top 4 private banks in Vietnam by charter capital, helping the lender maintain its competitive advantage via robust capital strength.
Banking - Thu, November 27, 2025 | 4:33 pm GMT+7
