Murphy Oil subsidiary Murphy Cuu Long Bac Oil has contracted PTSC Asia Pacific to supply, charter and operate an FSO vessel for the Lac Da Vang oilfield development in Block 15-1 offshore Vietnam.

PTSC AP is a joint venture between PetroVietnam Technical Services Corp and Yinson Production.

The $416 million contract, which includes maintenance of the vessel, has a firm period of 10 years, extendable by up to five years.

Murphy has specified a newbuild double-hull vessel with a storage capacity of about 500,000 bbl, dual-fuel systems and low-carbon emissions.

Following the two-year construction period, the vessel should start operations in fourth-quarter 2026.

Via PTSC AP and another joint venture, Yinson Production and PTSC also operate the FSO PTSC Bien Dong 01 and the FPSO PTSC Lam Son offshore Vietnam.