EnQuest plc has been granted a four-year extension, expiring in July 2034, to the block 12W production sharing contract in Vietnam.
PRODUCTION
The extension will allow the company and its partners “to access upside across Block 12W, with prospectivity spread across three gas discoveries and several additional targets”.
Since acquiring a 53.125% interest in block 12W in July 2025, EnQuest said it had maximised value from the Chim Sáo and Dua production fields.
The company completed three proactive well interventions that boosted production during the fourth quarter Q4 to 10.4 thousand barrels of oil equivalent per day, with 5.5 kboed net to EnQuest.
State-owned national oil, gas and energy industry corporation PetroVietnam awarded the extension.
EnQuest general manager, South East Asia, Radzif Ahmed said: “We are pleased with the production enhancements made during the early period of EnQuest’s operatorship and, with this PSC extension, we see opportunities to unlock significant value within the block.
“I thank PetroVietnam for putting its trust in EnQuest to lead the next phase of growth for Block 12W.”
Project partners are Bitexco and PetroVietnam Exploration Production Corporation Ltd.