Murphy deal

By Russell Searancke

 09 August 2012 22:59 GMT

Murphy Oil has made an entry into Vietnam, where it hopes to emulate the strategy and success it has had in Malaysia .

The US independent has tried to finalise an acreage position in Vietnam for nearly two years, and has been awarded a shallow-water exploration block in the Nam Con Son basin.

It is understood the permit is a relinquished section of Block 11-2, and Murphy owns a 60% operating stake, with Petrovietnam holding 40%.

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