EnQuest plc has broadened its southeast Asia portfolio with a production sharing agreement and initial sole operatorship for three condensate gas fields, offshore Brunei.
MERPATI
The company will develop the fields of Merpati followed by Meragi and Juragan within block C.
Gas is targeted for the domestic market and the Brunei liquefied natural gas plant which supplies the international LNG markets.
The PSA is expected to lead to a 50-50 joint venture company with partner Brunei Energy Exploration Sdn Bhd.
The JV will also become operator of block C and focus on completing Merpati’s field development plan.
A final investment decision is anticipated within the next two years and first gas in 2029.
EnQuest’s expansion into Brunei agreement follows its recent acquisition of assets in Vietnam from Harbour Energy plc.
“We are excited to embark on this new country entry with Brunei Darussalam,” said chief executive officer Amjad Bseisu.
“Our established presence in the region and operating expertise built up in Malaysia and the UK North Sea will be invaluable in supporting this project and future ventures in Brunei Darussalam.
“We are eager to continue fostering this relationship and to explore further opportunities with Brunei Darussalam.”