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EnQuest expands presence in Malaysia as secures contract with Petronas

Christian Fernsby ▼ | December 4, 2019
EnQuest has gott the Block PM409 Production Sharing Contract (‘PSC’) in partnership with PETRONAS Carigali Sdn Bhd (‘PCSB’).
Oil in Asia   EnQuest
Under the terms of the PSC, EnQuest will operate the block with a participating interest of 85.0%, with PCSB owning the remaining 15.0%.

Topics: EnQuest Malaysia Petronas

Block PM409 measures approximately 1,700 km2 and is located offshore Peninsular Malaysia in water depths of 70 to 100 metres.

The block is in a proven hydrocarbon area containing several undeveloped discoveries and is contiguous to the Group’s existing PM8/Seligi PSC, providing low-cost tie-back opportunities to the Group’s existing Seligi main production hub.

Within the initial four-year exploration term of the PSC, the partners are committed to the drilling of one well.