Announcing its Q3 2023 financial and operating results, Murphy Oil announced that its Board of Directors have sanctioned the Lac Da Vang field development project in Block 15-1/05 of the Cuu Long Basin, offshore Vietnam. Murphy as operator holds a 40 percent working interest in the block. This project is expected to achieve first oil in 2026, with development phased through 2029. Overall, the field has an estimated ultimate recovery of 100 million barrels of oil equivalent (MMBOE) gross resources, with peak gross production of 30 to 40 MBOEPD.
See Third Quarter 2023 Earnings Presentation for a map of the Lac Da Vang field development project in Block 15-1/05.
Source: Murphy Oil
