US oil and gas operator Murphy Oil is waiting for investment conditions to improve in Vietnam before accelerating its Lac Da Vang oil project in the offshore Cuu Long basin.

Houston-based Murphy has long highlighted the value and size of the Lac Da Vang project in Block 15-1/05, its satellite discoveries and the remaining exploration prospectivity.

Block 15-1/05 contains the Lac Da Vang, Lac Da Nau and Lac Da Trang discoveries plus several exploration prospects — Lac Da Hong, Lac Da Trang West and Lac Da Trang North-West.