EnQuest plc has completed its acquisition of Harbour Energy’s 53.125% equity interest in, and operatorship of, the Chim Sáo and Dua production fields in Vietnam.
PRODUCTION
The headline value for the assets in Block 12W is $85.1 million with EnQuest paying around $25.7m, net of interim period cash flows since the deal’s effective date of 1 January 2024.
The company said that as at 1 January 2025, net 2P reserves and 2C resources across the fields totalled 7.5 million barrels of oil equivalent and 4.9 million boe, respectively.
EnQuest aims to assess additional prospectivity on the block and to extend the production sharing contract beyond November 2030.
Completed work since signing for the acquisition has included a planned annual maintenance shutdown and three of six scheduled well intervention scopes which added “1,200 boepd of gross production”.
Net asset production for the first half of 2025 averaged 5.7 kboepd.
EnQuest looks to increase the figure with well intervention and a “chemical soaking process” undertaken during the shutdown.
“South East Asia is key to EnQuest’s growth and diversification strategy, and we are excited by the opportunity to utilise our proven operating expertise to optimise, enhance and extend the Block 12W assets in Vietnam,” added chief executive Amjad Bseisu.
Project partners are Bitexco and PetroVietnam Exploration Production Corporation Ltd.