During the Ministry of Industry and Trade’s Q4-2025 press conference held on January 29, Mr. Đặng Hải Anh, Deputy Director of the Oil, Gas, and Coal Department, addressed media inquiries regarding the oil discovery at the Hai Su Vang (HSV-2X) field in Block 15-2, located in the Cuu Long Basin, approximately 65 km off Vietnam’s southern coast. He confirmed that Murphy Oil, a U.S.-based company, is actively engaged in exploration and appraisal activities in Blocks 144-145 and 15-1,15-2. Recent efforts have yielded promising results in oil and gas exploration.
Largest oil discoveries in Southeast Asia since 2000. Source: Wood Mackenzie Lens
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For the oil reserves discovered in Block 15-2, specifically the Su Tu Vang field in the Cuu Long Basin, a subsidiary of Murphy Oil currently serves as the operator.
In 2024, Murphy Oil initiated exploration drilling at the Hai Su Vang field, followed by the successful appraisal well drilling in 2025 to assess the field’s scale, reserves, and production potential. The findings indicate significant potential for the Hai Su Vang field.
Investors urged to report oil reserves
Under current regulations, investors are required to conduct further appraisal and submit resource and reserve reports to the relevant authorities.
In 2025, Vietnam’s oil production reached approximately 10 million tons, with gas production at around 6 billion cubic meters. Coupled with the newly discovered reserves at the Hai Su Vang field, these results are highly encouraging.
“The Ministry of Industry and Trade commends the investors’ achievements over the past year,” stated a representative from the Oil, Gas, and Coal Department. However, to ensure accuracy, the Ministry has requested the project owner to prepare a report for review and approval by the competent authorities.
Moving forward, the Ministry of Industry and Trade will collaborate with the Vietnam National Oil and Gas Group (PVN) and other relevant agencies to thoroughly review the findings for an objective and comprehensive assessment.
Deputy Minister of Industry and Trade Nguyễn Sinh Nhật Tân added that these results are highly positive for the energy sector. In the coming period, the Ministry will work with stakeholders to conduct detailed evaluations and appraisals.
Previously, Murphy Oil Corporation (U.S.) announced the successful completion of the Hai Su Vang-2X appraisal well, with highly positive outcomes. According to Wood Mackenzie, a UK-based energy and natural resources research firm, the Hai Su Vang field is estimated to be the third-largest oil discovery in Southeast Asia since 2000 and the largest in the past two decades.
Thùy Linh
– 15:58 29/01/2026
