Gulf Oil and Gas accountACCOUNT

EnQuest Awarded Block PM409 PSC Offshore Malaysia

Source: www.gulfoilandgas.com 12/4/2019, Location: Asia

EnQuest PLC (EnQuest) is pleased to announce it has been awarded the Block PM409 Production Sharing Contract (PSC) in partnership with PETRONAS Carigali Sdn Bhd (‘PCSB’) by PETRONAS. 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%.

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.

EnQuest Chief Executive, Amjad Bseisu, said:
“We are delighted to have been awarded the Block PM409 PSC and to expand our presence in Malaysia. The block contains several undeveloped discoveries providing future opportunities for EnQuest to demonstrate its proven capabilities in low-cost drilling and near-field development. We would like to thank PETRONAS for their confidence in awarding us this block and we look forward to continuing our productive partnership with PETRONAS Carigali.”

Acquisitions and Divestitures News in Malaysia >>

United States >>  11/24/2020 - W&T Offshore, Inc. was the apparent high bidder on two blocks in the Gulf of Mexico Lease Sale 256 held by the Bureau of Ocean Energy Management ("BOE...
Brazil >>  11/23/2020 - GeoPark Limited, a leading independent Latin American oil and gas explorer, operator and consolidator with operations and growth platforms in Colomb...

United States >>  11/20/2020 - Talos Energy Inc. ("Talos") (TALO) announced that it is the apparent high bidder on two deepwater blocks in the recent Outer Continental Shelf ("OCS")...
Brazil >>  11/19/2020 - Petrobras, following up on the release disclosed on October 23, 2020, informs the beginning of the non-binding phase regarding the sale of all of its ...

Philippines >>  11/18/2020 - Jadestone Energy Inc., an independent oil and gas production company focused on the Asia Pacific region, announces the voluntary relinquishment and te...
Russia >>  11/18/2020 - Rosneft has approved the sale of 10% in the charter capital of Vostok Oil to Trafigura. ...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Malaysia Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 |

More News

Related Links

Gulf Oil and Gas
Copyright © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.