EnQuest Petroleum Production Malaysia, a wholly owned affiliate of UK-based EnQuest, has secured a letter of award (LOA) to partner in the Cendramas production sharing contract (PSC) in Peninsular Malaysia.
The award, granted by Petroliam Nasional Berhad (Petronas), includes a partnership with Medco Asia Pacific and Dialog Resources.
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The partnership’s commencement is contingent upon the finalisation of the joint operating agreement and the PSC, effective from 23 September 2026.
Both Medco Asia Pacific and Dialog Resources have confirmed their roles as partners in the Cendramas PSC.
Dialog Resources, a subsidiary of Dialog Group, also received its LoA from Petronas.
These developments are part of Petronas’ efforts through Malaysia Petroleum Management to manage the nation’s petroleum resources effectively.
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By GlobalDataDialog Group, which operates in petroleum development and related services, sees this partnership as an expansion of its upstream business, which aims to strengthen integration across various segments of the energy sector.
The company emphasises its strategy to diversify across energy sectors to sustain income amidst varying economic conditions.
The Cendramas PSC is not expected to impact Dialog’s current financials significantly but is expected to contribute positively to future earnings.
No new shares will be issued, nor will shareholder approval be required for this contract.
Medco Asia Pacific, part of PT Medco Energi Internasional, also participates in this venture as an extension of its footprint in South East Asia’s energy sector.
Medco Energi Internasional president director Hilmi Panigoro said: “We thank Petronas for the award and the trust to appoint Medco Asia Pacific Limited as Operator of the Cendramas PSC.
“We look forward to working closely with Petronas, Dialog and EnQuest to deliver safe and reliable operations and maximise value from the asset.”
In November 2025, EnQuest signed new senior secured reserve-based lending facilities totalling $800m (£607.55m).
