Oil discovery at Hai Su Vang field offshore Vietnam

At the regular press conference of the Ministry of Industry and Trade on January 29, Mr. Dang Hai Anh, Deputy Director of Petroleum and Coal (Ministry of Industry and Trade) said the location of the oil reservoir discovery was in block 15-2, Hai Su Vang field, located about 65 km from the southern coast of Vietnam.

Mr. Hai Anh said that the results of exploration drilling and appraisal over the past time have been “very positive”. With the discovered oil reserves, Hai Su Vang field is assessed to have great potential and significance to Vietnam’s energy industry.

According to previous information from Murphy Oil Corporation (USA), the operator of the Hai Su Vang field project, the first discovery well showed that there are about 370 feet (113 m) of oil reservoir in two reservoirs, with a test flow of about 6,000 barrels/day. New results show that the HSV-2X well recorded thicker oil, with a total reservoir thickness of 429 feet (131 m), of which the majority is located in the deeper main reservoir.

After this discovery, Murphy Oil will continue to evaluate the results and prepare a report on oil and gas resources and reserves to submit to competent authorities for review and appraisal.

Murphy Oil began drilling exploration wells at Hai Su Vang field in 2024. In October 2025, they successfully drilled an appraisal well (a well drilled after a discovery was made) to evaluate the scale, reserves and exploitation ability.

Mr. Hai Anh said that in the coming time, the Ministry of Industry and Trade will coordinate with the Vietnam National Industry and Energy Group (PVN) and relevant ministries to continue reviewing the results for objective assessment.

Hai Su Vang field is located in oil and gas block 15-2/17 in Cuu Long basin. This is an oil and gas block operated by Murphy Oil through a product sharing contract (PSC) between partners Murphy Oil (USA), PVEP (Vietnam) and SK Earthon (Korea). In the structure, PSC and PVEP hold 35% of the shares, SK Erathon 25%, Murphy 40% and are the operators of this oil and gas block.

In Vietnam, Murphy Oil is operating a number of oil and gas blocks in the Cuu Long and Phu Khanh basins. They are also investing in the Golden Camel mine (Kwloon basin).

Vietnam currently has the second largest oil reserves in Southeast Asia and the 28th largest in the world. Oil and gas fields are mainly concentrated in basins such as Cuu Long, Nam Con Son and Song Hong. Among them, a number of mines and mine clusters are being developed such as Blue Whale, Su Tu Den, Su Tu Vang, Su Tu Trang, Su Tu Nau… Last year, Vietnam’s oil exploitation output reached about 10 million tons, and 6 billion m3 of gas.