On January 29, at the Ministry of Industry and Trade's regular press conference, Dang Hai Anh, Deputy Director of the Oil and Gas and Coal Department, stated the oil discovery is located approximately 65 km off Vietnam's southern coast.
US oil group Murphy Oil, the project operator, is exploring for oil and gas in blocks 144-145, 15-1, and 15-2. According to Hai Anh, Murphy Oil began drilling exploration wells at the Hai Su Vang field in 2024. Last year (2025), the company successfully drilled an appraisal well to assess the discovery's size, reserves, and production potential.
The Deputy Director noted that recent exploration and appraisal drilling results have been "very positive." Given the discovered oil reserves, the Hai Su Vang field holds significant potential, crucial for Vietnam's energy sector. In 2025, Vietnam's oil production reached approximately 10 million tons, alongside 6 billion cubic meters of gas.
Following this discovery, Murphy Oil will continue appraising the results and prepare a resource and reserve report for submission to competent authorities for review and evaluation.
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Dang Hai Anh, Deputy Director of the Oil and Gas and Coal Department (Ministry of Industry and Trade), speaking at the press conference on January 29. Photo: MOIT |
Dang Hai Anh, Deputy Director of the Oil and Gas and Coal Department (Ministry of Industry and Trade), speaking at the press conference on January 29. Photo: MOIT
Hai Anh stated that the Ministry of Industry and Trade will coordinate with Petrovietnam (PVN) and relevant ministries to further review the results for an objective assessment.
Previously, US oil group Murphy Oil announced the successful drilling of the Hai Su Vang appraisal well in block 15-2, Cuu Long basin. This well, drilled from early October 2025, aimed to re-evaluate the Hai Su Vang oil and gas field discovery announced earlier in 2025.
The initial discovery well indicated approximately 370 feet (113 m) of oil pay zone across two reservoirs. New results from well HSV-2X show a thicker oil column, with a total oil pay zone thickness of 429 feet (131 m), primarily located in the deeper main reservoir.
The Hai Su Vang field is located within oil and gas block 15-2/17 in the Cuu Long basin. Murphy Oil operates this block through a production sharing contract (PSC) with partners Murphy Oil (US), PVEP (Vietnam), and SK Earthon (South Korea). Under the PSC structure, PVEP holds a 35% stake, SK Earthon 25%, and Murphy 40%, making Murphy the operator of the oil and gas block.
In Vietnam, Murphy Oil operates several oil and gas blocks in the Cuu Long and Phu Khanh basins. The company is also investing in the Lac Da Vang field (Cuu Long basin).
Phuong Dung
