EnQuest to acquire Malaysia offshore interests in $833M deal

Type: Acquisition · Technology: Oil Gas · Country: Malaysia · Value: $833M · Announced: 2026-06-10

EnQuest agreed to acquire interests in four offshore production sharing contracts (PSCs) in Malaysia for up to $833 million, significantly boosting its production, reserves, and cash flow. The deal, structured through EnQuest Petroleum Production Malaysia Limited, involves three separate farmout agreements with Petronas Carigali and E&P Malaysia Venture, with $554 million payable upon completion expected on December 31, 2026. Upon closing, EnQuest's group production is projected to surge by 134% from 2025 levels to over 100,000 barrels of oil equivalent per day, with the acquired assets contributing approximately 57,400 boepd. The transaction will also expand EnQuest's proved and probable reserves by about 85% to around 300 million barrels of oil equivalent, adding 138 million boe of 2P reserves. South East Asia will account for 69% of the enlarged group's production, up from 31% in the UK North Sea, following the acquisition.

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