Hanoi (VNA) – The Ministry of Industry and Trade (MoIT) has provided updated information on the oil discovery at the Hai Su Vang (HSV-2X) field in Block 15-2 of the Cuu Long Basin, located about 65km off Vietnam’s southern coast.
Speaking at the ministry’s regular press briefing in Hanoi on January 29, Deputy Director of the MoIT's Department of Oil, Gas and Coal Dang Hai Anh said that the US’s Murphy Oil Corporation is currently involved in oil and gas exploration and appraisal activities in Blocks 144-145 and Blocks 15-1 and 15-2 offshore Vietnam.
Recent exploration and appraisal activities have yielded positive results, he said, noting that with regard to the oil reserves discovered in Block 15-2, also known as the Hai Su Vang field in the Cuu Long Basin, a subsidiary of Murphy Oil is serving as the operator.
Murphy Oil began drilling an exploration well at Hai Su Vang in 2024, followed by the successful drilling of an appraisal well in 2025. The appraisal well was created to assess the scale, reserves and exploitation potential of the discovery. Based on the results to date, the Hai Su Vang field is considered to have significant potential.
Under current regulations, investors are required to continue appraisal activities and prepare resource and reserve reports for submission to competent authorities for review and approval. In Vietnam’s overall oil and gas output, recoverable oil reserves in 2025 were estimated at around 10 million tonnes while gas output projected at approximately 6 billion cubic metres.
Together with the newly discovered reserves at Hai Su Vang, these figures represent a highly encouraging outcome for the sector, Anh noted.
The MoIT highly appreciated the investor’s achievements over the past year. To ensure accuracy and transparency, the ministry has requested the project investor to complete and submit detailed reports for appraisal by relevant authorities.
In the coming period, he added, the MoIT will continue to coordinate with the Vietnam National Industry - Energy Group (Petrovietnam) and other ministries and agencies to comprehensively review and objectively assess the results.
Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan described the discovery as a very positive development for Vietnam’s energy sector, adding that the ministry will work closely with relevant units to carry out further evaluation and verification.
Earlier, Murphy Oil Corporation announced that its subsidiary had successfully drilled the Hai Su Vang-2X appraisal well in Block 15-2/17 in the Cuu Long Basin, about 40 miles (over 64 km) offshore Vietnam.
The well was drilled in October 2025 to further delineate the Hai Su Vang oil discovery announced earlier in the year.
Initial exploration results showed around 370 feet (113 metres) of net oil pay across two reservoirs. Updated appraisal data indicate thicker oil-bearing zones, with total net oil pay reaching 429 feet (131 metres), most of which lies within the deeper main reservoir./.
