SK Earthon begins oil production in Vietnam, makes new discovery

SK Earthon, the energy exploration subsidiary of SK Innovation, has begun crude oil production at the Golden Camel field off of Vietnam and discovered additional oil deposits nearby, the company said Tuesday.

The field, located in Block 15-1/05 southeast of Ho Chi Minh City, began production in late September, about two years after development started in 2024. US-based Murphy Oil, the block's operator, completed preparations ahead of schedule.

Golden Camel holds an estimated 60 million barrels of recoverable oil, according to SK Earthon. Production has begun at the first well, with additional wells to be drilled in stages. Once development is complete, daily output from the block is expected to reach up to 25,000 barrels.

The partners also discovered a 56-meter-thick oil-bearing layer about 3,800 meters underground at the nearby North White Camel field. The find follows a separate oil discovery and successful production test at Pink Camel in May 2025.

SK Earthon plans to work with Murphy Oil and Vietnam's state-owned PetroVietnam Exploration Production to assess the new discovery and pursue joint development of Golden Camel and Pink Camel, aiming to increase reserves and production.

The projects form part of SK Earthon's clustering strategy in Vietnam's Cuu Long Basin, which seeks to improve efficiency by developing neighboring oil fields together and sharing infrastructure and technical expertise. The company has also discovered oil in the adjacent Block 15-2/17.

SK Innovation entered the resource development business in 1983. The group now holds interests in 13 exploration and production blocks and five gas fields in 11 countries, with average production of equivalent to 58,000 barrels of oil per day based on its ownership stakes.

"The first oil production at Golden Camel is a result of our clustering strategy in Vietnam," an SK Earthon official said. "We will continue expanding our operations through joint development of neighboring blocks and strengthen our position in Southeast Asia's energy exploration market."