SK earthon Starts First Oil Production at Vietnam's Block 15-1/05, Two Years After Development Began

Daily oil production expected to reach up to 25,000 barrels
Additional 56-meter-thick oil-bearing zone discovered in nearby block

SK earthon, SK Innovation’s energy resources development subsidiary, has begun producing oil for the first time at Vietnam’s Block 15-1/05. The start of production comes about two years after full-scale development began. The company has also discovered a new oil-bearing zone nearby and is stepping up efforts to expand its resource development business in Vietnam.

Production platform at the Golden Camel structure in Vietnam Block 15-1/05. SK earthon

SK earthon said on October 13 that it began producing oil at the end of September 2026 from the Golden Camel structure in Vietnam’s Block 15-1/05. The company brought production preparations forward from its original schedule, enabling it to start production early.

The recoverable resources at the Golden Camel structure are estimated at about 60 million barrels. Oil is currently being produced steadily through the first production well, and the company plans to increase output by drilling additional production wells. Once further development is complete, daily oil production across the entire block is expected to reach up to 25,000 barrels.

With production now underway, SK earthon has secured a new production hub in Vietnam, following Block 15-1, where it has been producing oil since 2003.

Additional oil-bearing zones have also been discovered nearby. After SK earthon and Murphy drilled to a depth of about 3,800 meters at the North White Camel structure near the Golden Camel structure, they confirmed an oil-bearing zone 56 meters thick.

A view of the Golden Camel structure in Block 15-1/05, Vietnam. SK Earthon

In May 2025, the two companies discovered oil and successfully conducted test production at the Red Camel structure in the same block. SK earthon plans to conduct further assessments of the North White Camel structure alongside operator Murphy and Vietnam’s state-owned oil company PVEP, and to pursue integrated development of the Golden Camel and Red Camel structures.

SK earthon is expanding its resource development business around Vietnam’s Cuu Long Basin, including through its discovery of oil in nearby Block 15-2/17. The company aims to increase production and business profitability through a “clustering strategy” that shares development technology and infrastructure across geographically adjacent blocks.

SK earthon holds a 25% stake in Block 15-1/05. The operator, Murphy, and PVEP hold 40% and 35% stakes, respectively.

An SK earthon official said, “The start of oil production at the Golden Camel structure is the fruition of the clustering strategy we have pursued in Vietnam. We will expand our business in Vietnam through integrated development across neighboring blocks and strengthen our position in Southeast Asia’s resource development market.”

Since entering the resource development business in 1983, SK Innovation Group, including SK earthon, has become involved in 13 blocks and five gas fields across 11 countries. Based on SK’s equity share, average daily oil and gas production is equivalent to about 58,000 barrels of oil.

This content was produced with the assistance of AI translation services.