EnQuest plc has signed production sharing contracts, awarded in April, for the Gaea and Gaea II exploration blocks in Papua Barat (West Papua). OPERATOR The two blocks hold a “multi-trillion standard cubic feet unrisked resource potential”, estimated to be “in excess of 100 tscf by the Ministry of Energy and Mineral Resources. Gaea and Gaea […]
Tag: EnQuest plc
EnQuest expands into Brunei with PSA
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 […]
EnQuest completes Vietnam acquisition
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 […]
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 two production sharing contracts for Gaea and Gaea II blocks in Papua Barat (West Papua). 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. […]