EnQuest PLC has been awarded a Manufacturing Sharing Settlement (PSA) for Block C in Brunei by the Petroleum Authority of Brunei Darussalam (PABD).
EnQuest will initially be the only real operator of the PSA with the intention to subsequently, topic to contract, kind a 50/50 three way partnership firm with Brunei Power Exploration Sdn Bhd (BEE). As soon as established, the JVC will assume the position of operator for Block C and concentrate on finalizing the Merpati Area Improvement Plan with a view to attaining a remaining funding choice throughout the subsequent two years. It’s anticipated that the capital undertaking will start in 2027, with first fuel from the sphere to be on-line in 2029.
Block C is situated offshore Brunei Darussalam and hosts the condensate-rich fuel found fields of Merpati, Meragi and Juragan. EnQuest intends to develop these fields in phases, starting with Merpati Area. The produced fuel and liquids from the fields is focused to be used within the home market and the Brunei LNG plant; which provides the worldwide LNG markets.
“We’re excited to embark on this new nation entry with Brunei Darussalam,” commented Amjad Bseisu, CEO of EnQuest. “EnQuest is dedicated to fulfilling the duties entrusted to us and we’ll leverage our skilled workforce and differentiated working functionality to ship the undertaking safely and effectively.”
“This chance aligns with our technique to diversify our portfolio into fuel and develop our presence in South East Asia following two vital latest transactions to reinforce our manufacturing in Malaysia and our acquisition of Block 12W in Vietnam from Harbour Power,” Bseisu continued. “Our established presence within the area and working experience constructed up in Malaysia and the UK North Sea shall be invaluable in supporting this undertaking and future ventures in Brunei Darussalam. We’re desperate to proceed fostering this relationship and to discover additional alternatives with Brunei Darussalam.”