Murphy Oil Corporation subsidiary signs contract for Lac Da Vang oil field development

The Lac Da Vang (LDV) field is located in Block 15-1/05 of the Cuu Long Basin on the southeast continental shelf of Vietnam, approximately 120 km east of Vungtau city. MCB holds a 40 per cent interest in the block and serves as the operator, with its partners Petrovietnam Exploration Production Corporation (PVEP) holding 35 per cent, and SK Earthon Co., Ltd. owning 25 per cent.

The initial LDV development includes a central complex platform (LDV-A Platform), which will process crude oil to meet export quality standards and then pump it directly to vessels for storage and subsequent offloading. Notably, the LDV-A Platform represents the first development of the LDV oil field and MCB's first offshore project in Vietnam.

The contract between MCB and PTSC M&C for the LDV-A Platform covers project management, detailed engineering, procurement, construction, transportation, installation, hook-up, and commissioning for the LDV-A Platform, with the topside weighing over 6,000 metric tonnes and the substructures (jacket and piles) over 5,000 metric tonnes. The LDV-A Platform is planned to be commissioned in the second half of 2026, with most of the work carried out at PTSC M&C’s premises in Vungtau.

Jason Ritchie, general manager of Lac Da Vang Development, said, "Murphy is pleased to celebrate this significant milestone in the Lac Da Vang project, our first development in Vietnam. We are excited to begin the next phase of the Lac Da Vang project with PTSC M&C and hope that this is the first of many projects that we execute together in Vietnam for the benefit of our stakeholders. The Murphy team looks forward to continuing our collaborative working relationship with PTSC M&C to safely and efficiently deliver this significant energy project."

The Viet Nam National Oil and Gas Group (Petrovietnam) and Murphy Oil Corporation signed a memorandum of understanding (MoU) on July 8 to boost cooperation in oil and gas projects.

The US Murphy Oil Corporation, Korea’s SK Innovation and their Vietnamese partner PetroVietnam Exploration Production Corp has completed the transaction of participation right on the petroleum sharing contract for block 15-1/05 in Cuu Long basin offshore Vietnam.

Prime Minister Pham Minh Chinh received President and Chief Executive Officer of Murphy Oil Corporation Roger Jenkins in Washington D.C on May 13 afternoon (US time) as part of his trip to the US.