SK Earthon Begins Crude Production in Vietnam

SK Earthon, a subsidiary of South Korea’s SK Innovation, has begun crude oil production at an offshore block in Vietnam. The production started in late September 2024, following two years of development work.

The Golden Camel structure within Vietnam’s Block 15-1/05 is the site of the first production. U.S.-based Murphy Oil, the block operator, completed production preparations ahead of schedule, allowing for an earlier start than originally planned.

Recoverable resources at the Golden Camel structure are estimated at about 60 million barrels. Murphy plans to drill additional production wells to increase output, with total block production expected to reach up to 25,000 barrels per day once development is complete.

The block is owned by Murphy (40%), Vietnam’s state oil company PVEP (35%), and SK Earthon (25%). SK Earthon has been producing crude from Block 15-1 since 2003 and has previously developed the Black Lion, Golden Lion, Brown Lion, and White Lion structures.

During exploration at the North White Camel structure, a 56-meter-thick oil column was discovered at a depth of approximately 3,800 meters. Further evaluation of this structure will be conducted with partners. Oil was also discovered at the Red Camel structure in May 2024, with test production successfully completed.

SK Earthon plans to develop the Golden Camel and Red Camel structures in an integrated manner with Murphy and PVEP. Once evaluation of the North White Camel structure is complete, development of all three structures will become feasible.