Murphy Oil’s Commitment to Expanding Investment in Vietnam
Recent Developments in Energy Cooperation
In a significant move towards strengthening energy ties, Eric Hambly, the President and CEO of Murphy Oil Corporation, met with Vietnamese Party General Secretary To Lam in Hanoi on October 15, 2025. This meeting, part of Hambly’s working visit to Vietnam, underscored the company’s commitment to expanding its investment footprint in the country, signaling Murphy Oil’s confidence in Vietnam’s growth prospects.
Vietnam as a Key Partner
During the meeting, Hambly elaborated on Murphy Oil’s global business strategy, expressing that Vietnam is an integral partner in their plans. He conveyed deep gratitude towards the Vietnamese government for its ongoing support, highlighting the effective collaboration with the Ministry of Industry and Trade, as well as the Vietnam Oil and Gas Group. This cooperation has facilitated Murphy Oil’s exploration and production activities, which have yielded positive results in recent years.
Investment Expansion Plans
Confident about Vietnam’s robust economic outlook, Hambly emphasized Murphy Oil’s commitment to expanding its investments in the region. This pledge comes at a time when Vietnam is rapidly positioning itself as a vital player in the global energy market. General Secretary Lam acknowledged Murphy Oil’s long-standing commitment and successful operations in Vietnam, welcoming their plans to further enhance oil and gas exploration and production.
Key Areas of Focus: Energy Security and Environmental Sustainability
Energy cooperation is viewed as a cornerstone of the Vietnam-U.S. comprehensive strategic partnership. General Secretary Lam urged Murphy Oil to expedite ongoing projects, reaffirming Vietnam’s commitment to creating a favorable environment for both domestic and foreign investors in the energy sector. He outlined the country’s vision for energy development through 2030 and 2045, which emphasizes energy security, the efficient use of resources, and climate change response.
Collaboration and Technology Transfer
Lam expressed optimism about the potential of Vietnam’s economy, particularly in the oil and gas segment. He encouraged Murphy Oil to engage closely with Vietnamese ministries and partners to implement projects effectively while promoting technology transfer and high-quality personnel training. This commitment to collaboration is vital for fostering sustainable development in Vietnam’s energy landscape.
Murphy Oil: A Brief Overview
Founded in 1950 and headquartered in Arkansas, Murphy Oil Corporation is one of the United States’ leading energy companies, with a strong focus on oil and gas exploration and production. The company is involved in major projects across the U.S., Canada, and Malaysia, and has recently identified Vietnam as an emerging market of interest, steadily increasing its investments in the region.
Current Operations in Vietnam
Murphy Oil is actively operating several oil and gas blocks in the Cuu Long and Phu Khanh basins. Notably, the company is investing in the Lac Da Vang field offshore Vietnam, which is anticipated to start oil production in the fourth quarter of 2026. These projects not only underline Murphy Oil’s commitment but also reflect Vietnam’s growing significance in the international energy sector.
By focusing on clear objectives and fostering a collaborative approach, Murphy Oil and Vietnam are poised to make strides in energy development, paving the way for a sustainable and prosperous future in the sector.