Vietnam Gas Find Could Be Region's Largest in 20 Years

A major natural gas discovery off the coast of Vietnam could be the largest in Southeast Asia in two decades. The discovery was made by Murphy Oil Corporation, a US-based energy company. The discovery is located in Block 15-1/05 in the Cuu Long Basin. Murphy Oil operates the block with a 40% ownership. Partners include PetroVietnam, the state-owned oil company. Early tests indicate a significant flow of natural gas. This find could greatly increase Vietnam's domestic gas supply. The country currently relies on imports for some of its energy needs. Experts say the discovery is important for the entire ASEAN region. A find of this size has not been seen since the early 2000s. It could help meet growing energy demand in Southeast Asia. Further drilling is needed to confirm the total amount of gas. Murphy Oil and its partners are planning these next steps. The project will require major investment before production can begin.