US independent Murphy Oil's long-awaited oilfield development in Vietnam's Cuu Long basin is on the move again, with the operator beginning the process of securing major contractors. Houston-based Murphy has been sitting patiently for several years on a significant reserve of about 100 million barrels of oil equivalent at the Lac Da Vang field in Block 15-1/05. Murphy has long highlighted the value and size of the Lac Da Vang project, its satellite discoveries Lac Da Nau and Lac Da Trang and the remaining exploration prospectivity in Block 15-1/05. The development of Lac Da Vang went on hold at the beginning of the Covid-19 pandemic, just as the project was building momentum. Now it has returned, according to multiple market sources, with Murphy inviting regional oilfield services contractors to bid for two major offshore facilities - a leased floating storage and offloading vessel, and an offshore processing platform.
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