Murphy keeps keen eye on Vietnamese oil find

摘要

US operator Murphy Oil is highlighting the potential and remaining prospectivity around its significant Lac Da Vang oil discovery off Vietnam, which it is aiming to unlock once market conditions improve. The development of the field was put on hold earlier this year after Murphy reviewed its capital commitments when the impacts of the Covid-19 pandemic became apparent. Murphy had been aiming for first production in late 2021 and was running competitions for contractors for the field's major production facilities - a leased floating, storage and offloading vessel, an offshore processing platform, and a subsea tie-in to an existing gas pipeline. Lac Da Vang has an existing resource of about 100 million barrels of oil equivalent. Chief executive Roger Jenkins told analysts earlier this year that Lac Da Vang is "a significant discovery that we'll be bringing online", adding there is "significant upside" in the assets.