A high-level meeting took place on 8th June 2026 between Vietnam’s Minister of Industry and Trade, Le Manh Hung, and Eric M. Hambly, President and Chief Executive Officer of Murphy Oil.
Murphy Oil has been an active participant in Vietnam’s energy sector since 2012. The company is currently involved in and operates several key oil and gas contracts, including at the Lac Da Vang and Hai Su Vang projects. These ventures are anticipated to bolster the nation’s oil and gas supplies, thereby strengthening energy security and supporting Vietnam’s broader economic development.
During the meeting, Minister Hung acknowledged and highly praised Murphy Oil’s significant contributions to the nation’s oil and gas exploration and production landscape. He specifically encouraged the company, in its capacity as operator, to collaborate closely with all relevant parties. The objective is to ensure the effective implementation of existing contracts, particularly those concerning Blocks 15-1/05 and 15-2/17, emphasizing the importance of maintaining progress, quality, and efficiency in these undertakings. The minister also extended an invitation to Murphy Oil to proactively study and consider new investment opportunities and contracts in Vietnam. This consideration should be based on principles of investment efficiency, the harmonization of interests among all stakeholders, and strict adherence to Vietnamese legal frameworks.
Eric M. Hambly provided an overview of Murphy Oil’s global business strategy, reassuring the Vietnamese government that Vietnam continues to hold a position of importance as a partner. He expressed gratitude to both the Vietnamese Government and the Ministry of Industry and Trade for their support in facilitating the company’s oil and gas operations in recent years. Mr. Hambly also presented several recommendations pertaining to oil and gas activities within the country.
In response, Minister Hung affirmed that the Ministry of Industry and Trade would persist in its review and efforts to create favorable conditions, fully compliant with legal regulations. This commitment aims to offer continued support for Murphy Oil’s ongoing and future oil and gas operations in Vietnam. Recent developments include the PetroVietnam Exploration Production Corporation (PVEP) transferring a 5% interest and administration rights in Block 15-1/05 to Murphy Cuu Long Bac Oil Co. Ltd., further cementing the company’s presence and its role in Vietnam’s vital oil and gas sector. This strategic move highlights the ongoing expansion of Murphy Oil Vietnam investment.
