Business

Murphy Oil urged to expand investment in Vietnam

Murphy Oil has operated in Vietnam since 2012 and currently participates in and operates many important oil and gas contracts at projects such as Lac Da Vang and Hai Su Vang, which are expected to contribute additional oil and gas supplies, strengthen energy security and support Vietnam’s economic development.

Minister of Industry and Trade Le Manh Hung, President and Chief Executive Officer of Murphy Oil Eric M. Hambly, and delegates at their meeting on June 8 in Hanoi. (Photo: moit.gov.vn)
Minister of Industry and Trade Le Manh Hung, President and Chief Executive Officer of Murphy Oil Eric M. Hambly, and delegates at their meeting on June 8 in Hanoi. (Photo: moit.gov.vn)

Hanoi (VNA) – Minister of Industry and Trade Le Manh Hung on June 8 had a meeting with Eric M. Hambly, President and Chief Executive Officer of Murphy Oil - a US-based global energy corporation with more than 100 years of experience in oil and gas exploration and production across North America, Southeast Asia, Africa and other key regions worldwide, according to the Ministry of Industry and Trade (MoIT).

The company has operated in Vietnam since 2012 and currently participates in and operates many important oil and gas contracts at projects such as Lac Da Vang and Hai Su Vang, which are expected to contribute additional oil and gas supplies, strengthen energy security and support Vietnam’s economic development.

At the meeting, Hung highly valued Murphy Oil’s contributions to oil and gas exploration and production activities in Vietnam.

He called on the company, as operator, to work closely with relevant parties to effectively implement signed contracts, particularly at Blocks 15-1/05 and 15-2/17, ensuring progress, quality and efficiency.

The minister also encouraged Murphy Oil to continue studying and considering new investment opportunities and contracts in Vietnam on the basis of investment efficiency, harmonised interests among stakeholders, and compliance with Vietnamese law.

For his part, Eric M.Hambly shared the corporation’s global business strategy, affirming that Vietnam remains an important partner. He thanked the Vietnamese Government and the Ministry of Industry and Trade for facilitating the company’s oil and gas operations in recent years, while proposing several recommendations related to oil and gas activities in the country.

Hung said the ministry will continue reviewing and creating favourable conditions, in accordance with legal regulations, to support Murphy Oil’s oil and gas operations in Vietnam./.

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VNA
#MoiT #Eric M. Hambly #Murphy Oil #oil and gas exploration and production #NQ 59-BT
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