Murphy farms in to Cuu Long basin

Murphy said in its third-quarter earnings and operational update that it has taken a 35% stake in the 15-1/05 Production Sharing Contract (PSC) in the oil-prone Cuu Long, partnering with PVEP - the upstream branch of PetroVietnam - and refiner SK Innovation.

Murphy did not say where it acquired the 35% stake, or how much it paid. More than a year ago, French supermajor Total divested a 35% stake in 15-1/05, but the path to Murphy could not be conclusively determined.

PVEP