Murphy Oil Corporation has announced a new oil discovery in Vietnam and also reported success in appraisal drilling off the coast of Côte d'Ivoire. These discoveries are part of the company's recent developments in oil fields globally.
Oil Discovery in Vietnam
In Vietnam, Murphy Oil has reported a new discovery at the Lac Da Trang North-1X well located in Block 15-1/05. This well achieved 131 feet (approximately 40 meters) of net oil after reaching a total measured depth of 12,579 feet (approximately 3,834 meters) in water depth of approximately 147 feet (45 meters). This discovery indicates the high potential of oil resources in this area, and Murphy and its partners are evaluating this discovery and options for additional development and drilling.
Read more: Japanese Trade Minister Calls for Development of Oil Infrastructure and Storage
Production at Lac Da Wang Field
Production at the Lac Da Wang field has commenced on September 27, 2026, and is expected to increase with the addition of new wells by 2028. Net production is projected to peak between 10,000 and 15,000 barrels of oil equivalent per day (boepd) in the years 2028 to 2029. Murphy Oil holds a 40% working interest in Block 15-1/05, while PetroVietnam holds 35% and SK Earthon holds 25%.
Appraisal Drilling in Côte d'Ivoire
Off the coast of Côte d'Ivoire, the Bubale West-1X appraisal well in Block CI-103 has been drilled to a total depth of 19,357 feet (5,900 meters) in water depths of approximately 9,039 feet (2,755 meters). This well successfully discovered approximately 88 feet (27 meters) of net oil in the Turonian reservoir and also additional hydrocarbons in the deeper Albian reservoir. Initial analyses of the well logs and fluid samples indicate high-quality oil. Murphy holds an 85% working interest in Block CI-103, in collaboration with the national oil company of Côte d'Ivoire (PETROCI), which holds the remaining 15%, seeking to combine results with existing subsurface data to guide the remaining evaluation program.
Progress at the Cheniq Field
In the United States, Murphy has also brought the Cheniq development well online in the Walker Ridge 425 block. This well has an initial gross production rate of approximately 15,000 boepd, aligning with pre-drilling expectations. Murphy holds an 86.7% working interest in this well, and Petrobras America holds a 13.3% interest through its stake in MP GOM.
These advancements demonstrate Murphy's ability to create value through exploration, appraisal, and resource development. Eric M. Hanbali, President and CEO of Murphy Oil, stated that the drilling of Bubale West-1X and Lac Da Trang North-1X expands the company's resource potential, while development progress at Lac Da Wang and Cheniq showcases the company's ability to convert resources into production and cash flow.
Read more: UK Imposes Two New Sanctions Against Iran · Ali Nikzad Outlines the Reconstruction Process of Damaged Facilities in South Pars
