Murphy Oil Corp stated Tuesday appraisal drilling confirmed final yr’s Hai Su Vang oil discovery within the Cuu Lengthy Basin offshore Vietnam as “vital”.
“The up to date midpoint of recoverable sources for the first reservoir is in direction of the excessive finish of our beforehand communicated vary of 170-430 million barrels of oil equal (MMboe) and the excessive finish of the brand new vary now exceeds 430 MMboe”, the Houston, Texas-based firm stated in an internet assertion. “Moreover, outcomes from the shallow reservoir present recoverable useful resource upside not included within the beforehand communicated vary.
“Extra appraisal wells are essential to additional refine the vary of recoverable sources for each reservoirs”.
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The Hai Su Vang-2X (HSV-2X) appraisal nicely encountered 429 toes of internet oil pay throughout the identical two reservoirs the place the Hai Su Vang-1X discovery encountered about 370 toes of internet oil pay, Murphy stated. HSV-2X encountered 332 toes of internet oil pay within the deeper main reservoir and 97 toes of internet oil pay within the shallow reservoir, it stated.
“Inside the main reservoir, the HSV-2X appraisal nicely deepened the confirmed oil-down-to by 413 toes with out encountering water, extending the entire hydrocarbon column to roughly 1,600 toes”, Murphy stated.
“Formation analysis helps reservoir continuity to the HSV-1X discovery nicely. The first reservoir achieved a manufacturing price of 6,000 barrels of oil per day throughout movement testing of the appraisal nicely. The nicely produced high-quality, 37-degree API oil which is in step with the outcomes from the invention nicely. Additional testing is ongoing”.
Murphy stated it will proceed the appraisal marketing campaign to additional delineate the Block 15-2/17 subject and consider extra reservoir intervals with the HSV-3X appraisal nicely in Block 15-1/05, the place it found Lac Da Hong-1X (Pink Camel) final yr, and the HSV-4X nicely in Block 15-2/17.
“Each appraisal wells are included in our capital program, and we’re reaffirming our beforehand said capex steerage of $1.1-$1.3 billion for 2026”, it stated.
Murphy president and chief govt Eric Hambly stated, “The success of HSV-2X not solely reinforces the commerciality of the Hai Su Vang subject but in addition units the stage for a sturdy improvement program”.
Murphy operates Block 15-2/17 and Block 15-1/05 with a 40 p.c stake. State-owned PetroVietnam Exploration Manufacturing Corp Ltd owns 35 p.c. South Korea’s SK Earthon Co has 25 p.c.
In Block 15-1/05, Murphy goals to begin oil manufacturing within the Lac Da Vang (Golden Camel) subject within the fourth quarter of 2026, it says on its web site.
Elsewhere within the Southeast Asian nation, Murphy owns a 65 p.c working stake in deepwater blocks 144 and 145, which cowl a mixed 6.55 million acres within the Phu Khanh Basin.
To contact the creator, e mail jov.onsat@rigzone.com
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