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EnQuest Moves Closer to Finalizing Purchase of Malaysian Production Sharing Contracts

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EnQuest (ENQ.L) said Friday it can proceed with its planned acquisition of stakes in four Malaysian production sharing contracts after existing partners waived their pre-emption rights.

The company will acquire a 90% operated participating interest in the Balingian production sharing contract, a 100% operated participating interest in the SK8 production sharing contract, a 50% operated participating interest in the D35-D21-J4 production sharing contract, and a 30% non-operated participating interest in the PM6-12 production sharing contract.

Subject to certain customary completion conditions, the acquisitions are expected to close on Dec. 31.

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