#MurphyOil #Golden Camel #Golden Sea Lion #Vietnam Oil #PVN #East Sea #Energy #OilGas Technology #Vietnam Economy
American oil and gas corporation Murphy Oil is becoming the new focus of the Southeast Asian energy industry when it continuously announces plans to exploit and expand investment offshore Vietnam. After the discovery that is considered the largest in the region in nearly 20 years, Murphy Oil is accelerating the progress of bringing the Golden Camel mine into commercial exploitation in the fourth quarter of 2026.
According to the first quarter of 2026 report, Murphy Oil confirmed that Vietnam is currently one of the group's most strategic investment areas with an expected budget of nearly 200 million USD this year alone.
Vietnam has emerged as Asia's new "oil and gas hot spot".
The area Murphy Oil focuses on exploiting is located in the Cuu Long basin off the coast of southern Vietnam, about 65 km from the coast. This is an area that has been assessed for many years as having large oil and gas reserves but still has strong exploitation potential.
Murphy Oil key oil fields in Vietnam
Potential Status Area Project
Golden Camel Lot 15-1/05 Prepare first oil Q4/2026 10,000–15,000 BOEPD
Hai Su Vang Lot 15-2/17 Successfully appraised >430 MMBOE
White Camel North Cuu Long Basin Prepares for drilling Great potential
Hong Camel Offshore Vietnam Evaluating Long-Term Expectations
According to Murphy Oil, the Hai Su Vang field could be the largest oil and gas discovery in Southeast Asia in the past two decades after the HSV-2X well confirmed recovered reserves exceeding 430 million barrels of oil equivalent.
⛽ LacDa Vang enters the final stage before exploitation
The Golden Camel project is currently being implemented at a very high speed. Murphy Oil said all important infrastructure is being completed on schedule.
Progress in implementing Golden Camel 2026
Progress Category
Launching FSO Q2/2026
Complete pipeline Q2/2026
Superstructure installation Q3/2026
First Oil Q4/2026
Murphy Oil's internal updated photo shows that the project has entered the development drilling and construction phase of the offshore FSO system.
Average output in 2026 in Vietnam is expected to be around 500 BOEPD before increasing sharply in the period 2028–2029.
Vietnamese oil is considered very high quality
The point that attracts international investors' attention is not only the scale of reserves but also the quality of crude oil.
CEO Eric Hambly said that the oil exploited in Vietnam reaches about 37-38 degrees API, belongs to the group of high-quality light oils, is easy to refine and is often paid a better premium by the Asian market than the Brent price.
Compare Vietnam's oil advantages
Criteria for Vietnam Oil Middle East Oil
API 37–38 Lower in many mines
Distance to Asia Near Far
Logistics costs Lower Higher
Geopolitical risks Lower than High
Premium Brent selling price +2 to +3 USD Volatility
Especially in March 2026, the actual delivered oil price in Asia increased to Brent +12 USD/barrel due to Middle East tensions. This makes Vietnamese oil significantly more attractive.
Murphy Oil poured nearly 200 million USD into Vietnam
Murphy Oil currently spends about 16% of its global investment budget on Vietnam.
Investment structure Murphy Oil tin Vietnam in 2026
Value Category
Total global CAPEX $1.25 billion
Investment in Vietnam ~195–200 million USD
Golden Camel Development ~120 million USD
Hai Su Vang appraisal ~75 million USD
This is considered a very large investment level for an oil and gas project offshore Southeast Asia today.
Vietnam may enter a new oil and gas cycle
Many experts believe that the 2026–2030 cycle can become a period of strong recovery for Vietnam's oil and gas thanks to:
Oil prices remain high
Asia has a supply shortage
The East Sea still has a lot of potential
New mines are constantly being confirmed
LNG and petrochemical refining grew strongly
If Hai Su Vang and Camel Vang exploit as planned, Vietnam can significantly improve crude oil production, which has been declining for many years.
Long-term outlook to the early 2030s
Murphy Oil expects total production from projects in Vietnam to reach 30,000–50,000 BOEPD by the early 2030s if qualification programs continue to be successful.
This not only has commercial significance but also has a strong impact on:
Vietnam's energy security
Oil and gas revenue collection
Offshore logistics chain
Domestic oil refinery
Deep sea oil and gas technical services
Quick synthesis of Murphy Oil in Vietnam
Parameter Value
Mekong Basin operating area
Offshore distance ~65 km
First Oil Camel Vang Q4/2026
Peak Output 10,000–15,000 BOEPD
Hai Su Vang reserves >430 MMBOE
API 37–38 oil
Investment 2026 ~200 million USD
Target output 2030 30,000–50,000 BOEPD
Information compiled from the Murphy Oil report and csources of international energy markets.
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