During a recent meeting in New York, Vietnam's General Secretary and President To Lam discussed with Eric Hambly, the CEO of Murphy Oil, the company's discovery of a substantial oil field named Hai Su Vang, which is estimated to contain more than 430 million barrels of recoverable oil. This discovery marks a significant milestone in Vietnam's offshore oil exploration efforts.

Murphy Oil, a U.S.-based energy company with over a century of experience, began its operations in Vietnam in 2012 and has been involved in various offshore oil projects, including those in the Cuu Long and Phu Khanh basins. The company recently reported successful drilling results at the Hai Su Vang-2X well, located approximately 65 kilometers from the Vietnamese coast. The updated assessment indicates that the recoverable oil reserves are approaching the higher end of previous estimates, ranging from 170 to 430 million barrels.

In response to the growing energy needs in Vietnam, President To Lam highlighted the country's commitment to energy transition and the development of clean and renewable energy sources. He assured that Vietnam would maintain a stable and transparent investment environment, protecting the rights and interests of foreign investors.

Murphy Oil's CEO, Eric Hambly, reaffirmed the company's dedication to increasing investments in Vietnam and collaborating on the development of the oil and gas industry, technology transfer, and high-quality workforce training. For 2026, Murphy Oil plans to allocate approximately $195 million for projects in Vietnam as part of a broader investment strategy of $1.25 billion.

This ongoing commitment from Murphy Oil reflects the positive exploration results at Hai Su Vang and the advancement of existing oil projects in Vietnam. The company aims to commence production with a deep-sea drilling rig, targeting an output of 6,470 barrels per day, with the first oil expected in 2027.