Murphy Oil has achieved the Lac Da Vang first oil milestone offshore Vietnam earlier than planned, with production starting on 27 September 2026. The earlier schedule had placed first production in the fourth quarter. Yinson Production and PetroVietnam Technical Services Corporation (PTSC) confirmed the start-up in their 23 October announcement.
The project combines an offshore processing platform with the PTSC LDV floating storage and offloading vessel. The newly built FSO uses dual-fuel propulsion and can store 460,000 barrels of oil.
PTSC LDV received provisional acceptance on 20 September 2026, starting its 10-year firm charter. The agreement also includes options to extend the charter by up to five years. Murphy Cuu Long Bac Oil Co., Ltd., wholly owned by Murphy Oil Corporation, is the charterer.
Production is expected to increase through 2028 as further wells enter service. Located in the Cuu Long Basin, Lac Da Vang, or Golden Camel, has estimated gross recoverable volumes of about 100 million barrels of oil equivalent.
Murphy Oil operates Block 15-1/05 with PetroVietnam Exploration & Production and SK Earthon as partners. The block also hosts satellite discoveries named Lac Da Hong, Lac Da Trang and Lac Da Nau.
