EnQuest plc) stated it has been awarded a manufacturing sharing settlement (PSA) for Block C in Brunei by the Petroleum Authority of Brunei Darussalam (PABD).
The corporate’s subsidiary EnQuest EP BV Ltd will initially be the only operator of the PSA, with plans to kind a 50/50 three way partnership firm with Brunei Power Exploration Sdn Bhd (BEE), based on a information launch.
As soon as established, the three way partnership will assume the position of operator for Block C and deal with finalizing the Merpati Discipline Growth Plan, concentrating on to make a closing funding resolution throughout the subsequent two years, Enquest stated.
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Block C is positioned offshore Brunei Darussalam and hosts the condensate-rich fuel fields of Merpati, Meragi, and Juragan. EnQuest stated it intends to develop these fields in levels, starting with the Merpati Discipline. The produced fuel and liquids from the fields are focused to be used within the home market and within the Brunei liquefied pure fuel (LNG) plant, which provides the worldwide LNG markets.
Enquest stated it expects the capital undertaking to start out in 2027, with first fuel from the sphere to be on-line in 2029.
Enquest CEO Amjad Bseisu stated, “We’re excited to embark on this new nation entry with Brunei Darussalam. EnQuest is dedicated to fulfilling the duties entrusted to us and we are going to leverage our skilled workforce and differentiated working functionality to ship the undertaking safely and effectively”.
“This chance aligns with our technique to diversify our portfolio into fuel and develop our presence in South East Asia following two vital latest transactions to boost our manufacturing in Malaysia and our acquisition of Block 12W in Vietnam from Harbour Power. Our established presence within the area and working experience constructed up in Malaysia and the UK North Sea shall be invaluable in supporting this undertaking and future ventures in Brunei Darussalam. We’re desirous to proceed fostering this relationship and to discover additional alternatives with Brunei Darussalam,” Bseisu added.
Final week, EnQuest PLC closed the acquisition of Harbour Power’s enterprise in Vietnam, which holds a 53.125 p.c fairness curiosity within the Chim Sáo and Dua manufacturing fields, or Block 12W.
Enquest is now the operator of the property, made up of three producing oil and fuel fields: Chim Sáo, Chim Sáo North West (CSNW) and Dua, positioned within the Nam Con Son Basin, roughly 248.5 miles (400 kilometers) southwest of Vung Tau, Vietnam. Bitexco owns a working curiosity of 31.875 p.c, and PetroVietnam Exploration Manufacturing Company Ltd owns 15 p.c.
The transaction includes EnQuest’s acquisition of the 28.125 p.c fairness share held by Premier Oil Vietnam Offshore BV (POVO) and the 25 p.c share held by Premier Oil Vietnam Restricted.
As of January 1, internet 2P reserves and 2C sources throughout the fields totalled 7.5 million barrels of oil equal (MMboe) and 4.9 MMboe, respectively, based on the discharge.
In an earlier assertion, Bseisu gave an replace on the corporate’s operations within the area. He stated, “EnQuest has continued to ship glorious operational efficiency throughout our asset portfolio throughout 2025, attaining group manufacturing effectivity in extra of 90 p.c. Manufacturing for the primary quarter of the 12 months, excluding professional forma Vietnam volumes, averaged [42,000 barrels of oil equivalent per day] and remained forward of our steerage vary.
“By way of sturdy reservoir administration and good infill drilling outcomes, in April we delivered Magnus oil manufacturing of 16,800 barrels per day, the best fee since 2022. Attributable to a pipeline system outage, Magnus manufacturing was shut-in later in April, with remediation actions on the third-party-operated Ninian Central Platform now full and manufacturing restored. The third infill effectively within the 2025 drilling program shall be introduced on-line in June and, with sturdy charges anticipated, will add to the superb efficiency being delivered from Magnus. Accordingly, our manufacturing steerage of 40,000 to 45,000 barrels of oil equal per day, together with professional forma Vietnam volumes, stays unchanged,” he stated.
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