EnQuest plc has awarded a total of 7,176,105 shares under the company’s performance share plan. CONDITIONS Chief executive officer Amjad Bseisu received 4,305,663 shares, of £0.05 each, and chief financial officer Jonathan Copus 2,870,442. The 1 July 2026 awards will vest on 27 April 2029 as nil cost options, subject to performance conditions. EnQuest holds […]
Tag: EnQuest plc
EnQuest agrees $833m acquisition of Malaysia PSCs
EnQuest plc has agreed an aggregate $833 million (£622m) purchase of four production sharing contracts offshore Malaysia, expanding its position in Southeast Asia. PRODUCTION The acquisition is through three separate farm-out agreements, covering the PSCs, with state-owned Petronas Carigali SDN. BHD. and E&P Malaysia Venture Sdn. Bhd. Of the total sum payable, $554m (£413m) is […]
EnQuest signs Cendramas PSC
EnQuest plc has secured a 25% participating interest in the Cendramas block, offshore Peninsular Malaysia, by signing the production sharing contract. AGREEMENT Partner and operator Medco Asia Pacific Ltd holds 50% while DIALOG Resources Sdn Bhd by Petroliam Nasional Berhad (Petronas) through Malaysia Petroleum Management will have 25%. The joint operating agreement is effective from 23 […]
EnQuest receives LoA for Cendramas PSC
EnQuest plc said it had received a letter of award as a partner in the Cendramas production sharing contract in Malaysia. AGREEMENT The partnership will also include Medco Asia Pacific Ltd and DIALOG Resources Sdn Bhd. Petroliam Nasional Berhad (Petronas), through Malaysia Petroleum Management, made the written award. Subject to finalising and signing a […]
EnQuest granted more time for Vietnam PSC
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 […]
EnQuest secures $800m financing deal
EnQuest plc has signed new six-year, senior secured reserves based lending facilities for an aggregate $800 million (£608m) with a syndicate of eight “leading international banks”. STRATEGY The syndicate financing the facilities includes “long-standing existing lenders and high-quality new relationships”. The sum comprises a $400m secured revolving loan, a $400m secured revolving letter of credit, […]