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 […]
Tag: EnQuest plc
EnQuest retains best PAC title in Malaysia
EnQuest plc has won best petroleum arrangement contractor (PAC) in Malaysia for the second consecutive year at the Emerald Awards by state-owned oil company Petronas (Petroliam Nasional Berhad). VISION At the ceremony in Kuala Lumpur, Petronas also gave the company an award for abandonment excellence. “To receive this recognition once is a great honour,” said EnQuest’s […]
EnQuest-Serica drop merger plans
EnQuest plc and Serica Energy plc have exited plans for an all-share merger because “current market volatility” made it impossible to reach an agreement on terms. OPPORTUNITIES “The board remains very confident in Serica’s standalone ability to generate significant cash flow and deliver shareholder value and highly competitive shareholder returns from its balanced portfolio of […]
EnQuest expands into Indonesia with PSC blocks
EnQuest plc has expanded into Indonesia with the award of the two production sharing contract blocks of Gaea and Gaea II in Papua Barat. PARTNERS The company said that the blocks presented a multi-trillion standard cubic feet unrisked resource potential, while Indonesia offered a “broad range of growth opportunities” across the full upstream lifecycle. “This […]
Serica extends deadline for EnQuest’s offer
Serica Energy plc has secured an extension to EnQuest plc’s possible all-share offer by way of a reverse takeover for the UK North Sea-focused company. DISCUSSIONS EnQuest was due to state its firm intention to make an offer for Serica by 5pm on 4 April 2025 in accordance with the Panel on Takeovers and Mergers […]
EnQuest offers to merge with Serica
Serica Energy plc said it was in negotiations for a possible merger with EnQuest plc which has made an all-share offer by way of a reverse takeover. ASSETS Serica added that the proposed deal had “substantial potential benefits” including “increasing scale and diversification, unlocking significant synergies and providing a stronger platform for further growth”. The […]