Business · Energy & Commodities · 1 hr ago
SK Earthon begins oil production at Vietnam field after 19 years
SK Earthon has begun producing oil from the Golden Camel structure in Vietnam’s 15-1/05 block.
The company first joined development of the block in 2007 and holds a 25% stake.
US company Murphy Oil operates the block with a 40% stake, while Vietnam’s state oil company PVEP holds 35%.
The Golden Camel field was confirmed as commercially viable in 2019, and full development began in 2024.
Its recoverable resources are estimated at about 60 million barrels, and oil is now flowing from the first well.
SK Earthon plans to drill more production wells; once further development is complete, output across the block could reach 25,000 barrels a day.
The partners are also assessing another nearby oil discovery and plan to develop several structures together.
SK Earthon began producing oil in late September from the Golden Camel structure in Vietnam’s Block 15-1/05, 19 years after joining the project.
The company holds a 25% stake in the block, which is operated by Murphy Oil.
Recoverable resources at Golden Camel are estimated at about 60 million barrels.
Further development could raise production across the block to as much as 25,000 barrels a day.
SK Earthon and Murphy Oil also reported an oil-bearing layer at the nearby North White Camel structure.
- Who
- SK Earthon began production, with Murphy Oil as the block operator and PVEP also holding a stake.
- What
- Oil production began at the Golden Camel structure in Block 15-1/05.
- When
- In late September 2026.
- Where
- Vietnam’s Block 15-1/05, in the Cuulong Basin.
- Why
- The article does not state a specific reason for starting production. SK Earthon said the start was a result of its strategy to develop nearby blocks together.
This story does not have two clearly opposing sides.
SK Earthon’s predecessor, SK Corp., joined development of Block 15-1/05 and secured a 25% stake.
Exploration confirmed that the Golden Camel structure could support commercial production.
Full-scale development began at the block.
SK Earthon and Murphy Oil found oil at the Red Camel structure and conducted a test production of light crude.
Production began at the Golden Camel structure.
- SK Earthon stake
- 25%
- Golden Camel estimated recoverable resources
- About 60 million barrels
- Block partners
- Murphy Oil: 40%; PVEP: 35%
- North White Camel oil-bearing layer
- 56 metres thick, at a depth of about 3,800 metres
- Potential block-wide daily production
- Up to 25,000 barrels per day
What people are saying
The first oil production at the Golden Camel structure is the result of the clustering strategy we have pursued in Vietnam.
Sources
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