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LONDON - EnQuest PLC has secured a Production Sharing Agreement (PSA) for Block C offshore Brunei Darussalam, according to a press release statement issued Wednesday.
EnQuest subsidiary EnQuest EP BV Ltd will initially operate the PSA independently before forming a planned 50/50 joint venture with Brunei Energy Exploration Sdn Bhd (BEE), subject to contract finalization. Once established, this joint venture will take over as Block C operator.
The companies aim to finalize the Merpati Field Development Plan and reach a Final Investment Decision within two years. Capital project work is expected to begin in 2027, with first gas production targeted for 2029.
Block C contains three discovered condensate-rich gas fields: Merpati, Meragi, and Juragan. EnQuest plans a phased development approach, starting with the Merpati Field. Gas and liquids produced from these fields will supply both Brunei’s domestic market and the Brunei LNG plant, which serves international markets.
This agreement represents EnQuest’s entry into Brunei’s energy sector and follows the company’s recent expansion in Southeast Asia, including production enhancements in Malaysia and the acquisition of Vietnam’s Block 12W from Harbour Energy.
"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," said Amjad Bseisu, CEO of EnQuest.
The financial terms of the agreement were not disclosed in the announcement.
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