EnQuest to acquire interests in four Malaysian offshore production sharing contracts for $833 million
Type: Acquisition · Technology: Oil Gas · Country: Malaysia · Value: $833M · Announced: 2026-07-10
EnQuest has cleared a key hurdle for its proposed $833 million acquisition of interests in four offshore production sharing contracts (PSCs) in Malaysia. Existing partners waived their pre-emption rights over Package 2, which covers a 50% operated participating interest in the D35-D21-J4 PSC. The acquisition includes a 90% operated interest in the Balingian PSC and a 100% operated interest in the SK8 PSC under Package 1, the 50% operated interest in the D35-D21-J4 PSC under Package 2, and a 30% non-operated interest in the PM6-12 PSC under Package 3. Completion is expected on December 31, 2026, subject to customary conditions. The transactions are expected to add approximately 57,400 barrels of oil equivalent per day of production and 138 million barrels of oil equivalent of net proved and probable reserves.
Counterparties
- E&P Malaysia Venture (Seller)
- EnQuest (Buyer)
- Petronas Carigali (Seller)