SK earthon starts oil output at Vietnam's Lac Da Vang offshore field

Oil output has commenced at the Lac Da Vang offshore field in Vietnam's Cuu Long Basin, according to a press release from SK earthon. The field is part of Block 15-1/05, which is operated by Murphy Oil Corp. and includes partners Murphy Oil (40% stake) and PetroVietnam Exploration Production Corp. (35% stake), while SK earthon retains a 25% interest after investing in the project in 2007. The block is believed to hold roughly 60 million barrels of oil, and full development could lift production to as much as 25,000 barrels per day.

The company highlighted that expanding exploration and development in Vietnam aligns with its goal of securing stable energy supplies amid rising geopolitical tensions and supply chain disruptions. SK earthon, a wholly owned subsidiary of SK Innovation, has been growing its overseas E&P portfolio in China and Southeast Asia, generating over 1 trillion won in annual revenue since 2022.