New offshore oil field discovered in Vietnam with strong potential

Vietnam has recorded a positive result at the Hai Su Vang (HSV-2X) oil field in Block 15-2/17 in the Cuu Long Basin offshore southern Vietnam, following a successful appraisal well drilled by a subsidiary of US-based Murphy Oil, the Ministry of Industry and Trade said on January 29.

Deputy head of the Oil and Gas and Coal Department Dang Hai Anh said Murphy Oil is currently involved in exploration activities in Blocks 144-145 and 15-1, 15-2, with encouraging outcomes in recent years.

Murphy Oil began drilling an exploration well at Hai Su Vang in 2024 and successfully drilled the HSV-2X appraisal well in 2025 to assess the field’s size, reserves and production potential. The field is considered to have significant potential, the ministry said.

New offshore oil field discovered in Vietnam with strong potential -0
The HSV-2X well has been drilled to assess the size and reserves of the Hai Su Vang oil and gas field discovered in early 2025. (Photo: Murphy Oil)

According to Murphy Oil, the HSV-2X well confirmed thicker oil-bearing zones, with total net oil pay of 429 feet (131 metres), compared with about 370 feet (113 metres at two reservoirs) recorded by the initial discovery well earlier in 2025.

The main reservoir is estimated to produce about 6,000 barrels of oil per day. The crude has high quality at 37 degrees API, consistent with results from the initial discovery well and indicating geological continuity with the Hai Su Vang-1X well.

The firm said the latest appraisal results suggest the Hai Su Vang field is larger than previously estimated, prompting an upward revision of recoverable resources. Mean recoverable volumes in the main reservoir are now assessed at the high end of a range of 170 million to 430 million barrels of oil equivalent, with potential to exceed 430 million barrels.

In addition to the main reservoir, new data also confirmed the presence of oil in a shallower reservoir, which had not previously been included in resource estimates. Murphy Oil said further appraisal wells would be drilled to fully evaluate the field’s potential.

Under current regulations, investors are required to continue appraisal work and submit resource and reserve reports to competent authorities for approval. The ministry said it would coordinate with PetroVietnam and relevant agencies to review and assess the results.

Deputy Minister Nguyen Sinh Nhat Tan said the discovery is a positive development for Vietnam’s energy sector. The country’s oil output in 2025 stood at around 10 million tonnes, while gas production reached about 6 billion cubic metres, he added.

VOV

Other News

Robust dispute resolution framework key to Vietnam's IFC ambitions

Robust dispute resolution framework key to Vietnam's IFC ambitions

The development strategy for VIFC-HCMC envisions a comprehensive financial ecosystem encompassing green finance, carbon credits, financial technology (fintech), blockchain technology, digital assets, digital banking and other innovative business models. These highly internationalised sectors involve complex cross-border transactions and sophisticated legal structures.

North – South Expressway expands EV charging infrastructure

North – South Expressway expands EV charging infrastructure

According to the Department for Roads of Vietnam, the Vietnam National Petroleum Group (Petrolimex) is investing in nine rest stops. At the Mai Son–National Highway 45 rest area, 10 charging points have been installed on each side of the expressway. Each point has two charging ports, providing 20 EV charging spaces on each side.

A view of a container port in Singapore. (File photo: Xinhua/VNA)

Vietnam-Singapore trade cooperation gains fresh momentum

Analysts noted that Vietnam-Singapore ties are increasingly moving beyond traditional goods trade towards green growth, innovation and high-quality supply chains, laying a stronger foundation for more substantive and sustainable cooperation in the years ahead.

Vietnamese products make strong impression at Foodservice Australia 2026

Vietnamese products make strong impression at Foodservice Australia 2026

International visitors expressed positive impressions of Vietnamese products displayed at the fair. Nelma Sanjines, senior supervisor at ESP Catering in Sydney, praised the flavour of Vietnamese chilli sauce and soy sauce as well as the attractive packaging of confectionery products.

Digital technology helps standardise supply chains, sustain export competitiveness

Digital technology helps standardise supply chains, sustain export competitiveness

Experts noted that supply chain optimisation and risk management are no longer isolated tasks for individual companies but a requirement for the entire export ecosystem. With guidance from regulators, support from industry experts and their own efforts, Vietnamese exporters are expected to enhance their competitiveness and turn technical barriers and market volatility into opportunities for sustainable growth in global markets.

Vietnam seen as attractive investment destination for 2026–2035

Vietnam seen as attractive investment destination for 2026–2035

The article described Vietnam as strategically positioned along major regional maritime routes, including the East – West corridor linking the Americas, the Middle East, India and Europe, and the North – South corridor connecting China and Southeast Asia, helping make the country a gateway for international trade.

Eco-industrial parks seen as catalyst for higher-quality FDI

Eco-industrial parks seen as catalyst for higher-quality FDI

The eco-industrial park model will help Vietnam meet international environmental standards while creating opportunities to improve growth quality and economic competitiveness. Many multinational corporations now view green standards, emissions reduction and energy efficiency as key conditions when selecting investment destinations.

Promoting Vietnamese Brands at an International Food Fair in Gwangju

Promoting Vietnamese Brands at an International Food Fair in Gwangju

Alongside exhibition activities, trade promotion, and business networking programs, the “Gwangju Global Food Fair 2026” also witnessed the signing ceremony of a Memorandum of Understanding (MOU) between the Vietnam–Korea Businessmen & Investment Association (VKBIA) and the Gwangju Tourism Organization of South Korea.