EnQuest buying Asian assets

June 16, 2014

UK-based operator EnQuest has agreed to acquire ExxonMobil Exploration and Production Malaysia’s interest in the Seligi oil field and the PM8 PSC, offshore Malaysia, subject to approval by Petronas and conditions.

The acquisition will add about 5000 boe/d of net production and 11MM boe of net 2P reserves to EnQuest. 

Seligi is approximately 240km offshore Peninsular Malaysia in 73 water depth.  The entire oil field encompasses approximately 80sq m and has been developed with Seligi-A, the main production platform and separate gas compression platform, along with seven minimum facilities satellite platforms tied back to Seligi-A.

PM8 PSC comprises six developed fields (Lawang, Langat, Serudon, North Raya, South Raya and Yong), which have been developed with four minimum facilities satellite platforms tied back to Seligi-A. 

The six fields have combined original hydrocarbons in place of over 180MM bo. They have been developed with a total of 33 strings and produced around 100MM bo.

 


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