Murphy Oil to Boost Investment in Vietnam's Oil & Gas Sector
September 27, 2026
During a recent meeting in New York, Murphy Oil's chairman and CEO Eric Hambly expressed the company's intention to increase its investment in Vietnam's oil and gas sector. This discussion took place alongside the 81st United Nations General Assembly, highlighting Murphy's commitment to collaborate with Vietnam in offshore exploration and production.
Vietnam's Party General Secretary and President To Lam welcomed Murphy Oil's investment, noting the country's growing energy demands as it progresses economically. He emphasized the government's dedication to maintaining a stable investment climate for foreign investors while promoting energy transition and renewable sources.
In its recent business review, Murphy Oil disclosed an expenditure of approximately $39 million in Vietnam for the first quarter of 2026, with plans for Vietnam to represent about 16% of its global capital expenditure budget for the year. The company has identified significant oil reserves at the Hai Su Vang field and is planning further exploration activities in the region, including drilling at the White Camel North prospect later this year.
Source: The Investor. Read the full article.