Murphy Oil has farmed into the shallow-water Cuu Long Basin offshore Vietnam, according to the US company’s third-quarter statement. The company also stated that a discovery well has successfully been tested as part of the farm-in agreement.

Murphy enters Cuu Long Basin

Vietnam

HANOI, October 29, 2015 – Murphy Oil has farmed into the shallow-water Cuu Long Basin offshore Vietnam, according to the US company’s third-quarter statement. The company also stated that a discovery well has successfully been tested as part of the farm-in agreement.

Murphy has undertaken a 35-percent stake in the 15-1/05 production-sharing contract with state-run operator PetroVietnam Exploration and Production and Korea’s SK Innovation.

PetroVietnam’s discoveries in the production-sharing contract include the Lac Da Nau and the Lac Da Vang finds in 2009 and 2010, respectively.

In July, PetroVietnam and Murphy signed a memorandum of understanding to develop oil and gas projects in Vietnam and the US, which could be an opening for Murphy to participate in the former’s Block B gas development and the Malay-Tho Chu Basin.