UK-based petroleum exploration and production company EnQuest has secured a production sharing agreement (PSA) for Block C offshore Brunei Darussalam.
The PSA, which was awarded by the Petroleum Authority of Brunei Darussalam, includes the condensate-rich gas Merpati, Meragi and Juragan discovered fields.
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EnQuest EP BV will initially assume the role of initial sole operator of the PSA with plans to establish a 50/50 joint venture (JV) with Brunei Energy Exploration (BEE), which will take over as the operator and focus on advancing the Merpati field development plan, aiming for a final investment decision within two years.
The development is set to commence in stages, starting with the Merpati field.
The gas and liquids produced are intended for domestic use and supply to the Brunei LNG plant, which caters to international liquefied natural gas (LNG) markets.
The capital project is set to begin in 2027, with the first gas scheduled to be online by 2029.
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By GlobalDataEnQuest CEO Amjad Bseisu said: “We are excited to embark on this new country entry with Brunei Darussalam. EnQuest is committed to fulfilling the responsibilities entrusted to us and we will leverage our experienced workforce and differentiated operating capability to deliver the project safely and efficiently.”
This move is part of EnQuest’s plan to diversify its portfolio into gas and broaden its footprint in South East Asia.
The company has recently enhanced its production in Malaysia and acquired Block 12W in Vietnam from Harbour Energy, marking significant transactions in the region.
Amjad Bseisu said: “Our established presence in the region and operating expertise built up in Malaysia and the UK North Sea will be invaluable in supporting this project and future ventures in Brunei Darussalam. We are eager to continue fostering this relationship and to explore further opportunities with Brunei Darussalam.”
Earlier this year, EnQuest and its JV partners secured two production sharing contract blocks in Papua Barat, Indonesia, further expanding their footprint in South East Asia.
