Murphy Oil has successfully drilled the Hai Su Vang-2X (HSV-2X) appraisal well in Block 15-2/17 off the Vietnamese coast, confirming significant oil reserves and extending hydrocarbon resources in the Cuu Long Basin.
Located approximately 40 miles off the coast of Vietnam, the well was spudded in October 2025 by the company’s subsidiary. The drilling represents a key milestone in Murphy’s appraisal programme for the Hai Su Vang (Golden Sea Lion) field.
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The HSV-2X well was drilled to evaluate the 2025 Hai Su Vang discovery, where the original discovery well identified around 370ft of net oil pay in two separate reservoirs.
The appraisal well encountered 429ft of net oil pay, encompassing the initial discovery of 332ft in its primary reservoir and 97ft in a shallower reservoir.
It extended the known oil column by an additional 413ft below the previous oil-down-to level without encountering water, increasing the total hydrocarbon column to roughly 1,600ft.
Formation evaluation indicates that the reservoir is continuous with the HSV-1X discovery well.
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By GlobalDataDuring flow testing of the appraisal well, the primary reservoir delivered a production rate of 6,000 barrels of oil per day.
These findings suggest a significant resource upside for the Hai Su Vang field, with recoverable resources potentially exceeding previous estimates.
The revised midpoint estimate of recoverable resources for the main reservoir now lies near the upper end of the earlier stated range of 170–430 million barrels of oil equivalent (mboe), while the upper bound of the updated range is currently more than 430mboe.
Murphy Oil president and CEO Eric Hambly said: “This is a pivotal moment for our Vietnam business. The success of HSV-2X not only reinforces the commerciality of the Hai Su Vang field but also sets the stage for a robust development programme. We are proud of our team’s execution and remain committed to working closely with our partners and the Vietnamese Government to unlock the full potential of this asset.”
After finishing operations at HSV-2X, Murphy Oil will proceed with its appraisal programme to define the field and assess additional reservoir zones through the HSV-3X appraisal well in Block 15-1/05 and the HSV-4X well in Block 15-2/17.
These operations are covered in Murphy’s capital programme, which maintains capital expenditure guidance of $1.1bn–$1.3bn through 2026.
Murphy Oil operates Blocks 15-2/17 and 15-1/05 through its subsidiaries Murphy Cuu Long Tay Oil and Murphy Cuu Long Bac Oil, respectively, holding a 40% stake in each.
PetroVietnam Exploration Production Corporation holds a 35% working interest in each block, with SK Earthon holding the remaining 25%.
