According to SK innovation's subsidiary, Murphy Oil, the U.S.-based operator of Block 15-1/05, began its first oil production at the Golden Camel structure in late September, ahead of schedule, expanding the company's production base in the Southeast Asian country as it seeks to secure more stable earnings.
The Golden Camel structure is estimated to hold about 60 million barrels of recoverable oil. Production is currently underway through the first well, with additional wells to be drilled in stages to increase output. Once further development is completed, daily production from the block could reach up to 25,000 barrels.
The start of production at Block 15-1/05 comes about two years after full-scale development began in 2024, expanding SK earthon's operations in Viet Nam, where it has been producing oil from Block 15-1 since 2003.
SK earthon is also exploring additional oil resources in the area, having recently discovered a 56-meter-thick oil-bearing layer with Murphy at the North White Camel structure while drilling an exploration well at a depth of about 3,800 meters. The two companies previously discovered oil at the Red Camel structure within Block 15-1/05 in May 2025 and conducted test production.
SK earthon plans to further assess the North White Camel discovery with Murphy and Viet Nam's state-run PetroVietnam Exploration Production (PVEP) while pursuing the joint development of the Golden Camel and Red Camel structures to maximize recoverable reserves and production.
SK earthon holds a 25 percent stake in Block 15-1/05, while Murphy and PVEP hold 40 percent and 35 percent, respectively.
"The start of oil production at the Golden Camel structure reflects our clustering strategy in Viet Nam," an SK earthon spokesman said, adding that the company plans to expand its operations in the country by jointly developing nearby blocks.
Since entering the resources development business in 1983, SK Innovation's affiliates have expanded their operations to 13 oil and gas blocks and five gas fields across 11 countries, with combined production averaging 58,000 barrels of oil equivalent per day.
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