SK earthon begins oil production at offshore field in Vietnam
SEOUL, Oct. 13 (Yonhap) -- SK earthon Co., a South Korean oil exploration and pr...
SK earthon, a Korean oil exploration and production company, announced on Tuesday that oil production has commenced at an offshore field in Vietnam, where the firm holds a 25 percent stake. The Lac Da Vang field, operated by U.S.-based Murphy Oil Corp., initiated production in the Lac Da Vang field in the Cuu Long Basin late last month. Vietnam's state-run PetroVietnam Exploration Production Corp. (PVEP) owns a 35 percent stake, while Murphy Oil and SK earthon collectively hold 40 percent.
The Lac Da Vang block is estimated to contain 60 million barrels of oil reserves, with production potentially reaching 25,000 barrels per day upon full development, according to SK earthon. The company plans to continue expanding its oil exploration and development activities in Vietnam to ensure a stable energy supply amid rising geopolitical tensions and supply chain disruptions. SK earthon has been actively expanding its E&P operations in China and Southeast Asia to enhance the profitability of its parent company.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 1 other outlet
- SK earthon begins oil production at offshore field in Vietnam koreatimes.co.kr
