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.
Largest oil discoveries in Southeast Asia since 2000. Source: Wood Mackenzie Lens
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Murphy Oil’s subsidiary currently operates the Su Tu Vang field, also located in Block 15-2 of the Cuu Long Basin. In 2024, Murphy Oil initiated exploration drilling at the Hai Su Vang field, followed by a successful appraisal well in 2025 to assess the field’s scale, reserves, and production potential. The discovery highlights 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.
Vietnam’s 2025 oil production reached approximately 10 million tons, with gas output at around 6 billion cubic meters. Coupled with the new reserves discovered 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 the Oil, Gas, and Coal Department representative. However, to ensure accuracy, the Ministry has requested the project owner to submit reports for review and approval by competent authorities.
Moving forward, the Ministry of Industry and Trade will collaborate with the Vietnam Oil and Gas Group (PVN) and other relevant agencies to thoroughly evaluate the findings for an objective and comprehensive assessment.
Deputy Minister of Industry and Trade Nguyễn Sinh Nhật Tân emphasized that these results are a significant milestone for the energy sector. The Ministry will work with stakeholders to conduct detailed evaluations in the coming period.
Previously, Murphy Oil Corporation announced the successful completion of the Hai Su Vang-2X appraisal well, with highly positive outcomes. According to Wood Mackenzie, a leading energy and natural resources research firm based in the UK, 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
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