Largest oil well in Southeast Asia of last two decades found offshore of Vietnam
The discovery offers Vietnam an opportunity to reverse a two-decade decline in oil production. National output has fallen from 365,000 barrels per day in 2005 to below 120,000 barrels per day in 2025.
Largest oil well in Southeast Asia of last two decades found offshore of Vietnam
New Sustainable Economics

Largest oil well in Southeast Asia of last two decades found offshore of Vietnam

Photo: iStock
Eurasia/ANN 12/01/2026 18:01

The discovery offers Vietnam an opportunity to reverse a two-decade decline in oil production. National output has fallen from 365,000 barrels per day in 2005 to below 120,000 barrels per day in 2025.

Murphy Oil Corporation has announced that its subsidiary has successfully drilled the Hải Sư Vàng-2X (HSV-2X) appraisal well offshore Việt Nam, a discovery that could rank as Southeast Asia’s largest oil find of the past 20 years, Asia News Network reports.

The well is located in Block 15-2/17 in the Cửu Long Basin, about 40 miles offshore of Việt Nam.

According to analysis by Wood Mackenzie, Murphy Oil’s successful appraisal of the HSV-2X discovery positions it as the biggest oil find in Southeast Asia over the last two decades.

The HSV-2X appraisal well encountered 429 feet of oil across two reservoirs and tested at 6,000 barrels per day of 37° API oil. Murphy has revised its estimate of recoverable reserves towards the upper end of the previously announced 170–430 million barrels of oil equivalent range, with additional shallow reservoir sections offering further upside potential.

#Vietnam
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Viet Nam on the eve of the 14th National Party Congress: When the “Growth Miracle” enters a “New Era of National Rise”
Viet Nam on the eve of the 14th National Party Congress: When the “Growth Miracle” enters a “New Era of National Rise”

In just a few days, Hanoi will host what is widely regarded as the most significant political event of Viet Nam: the 14th National Congress of the Communist Party of Viet Nam, scheduled to take place from 19 to 25 January 2026, with the participation of 1,586 delegates representing more than five million Party members nationwide.

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