Malaysia Acquisition

EnQuest PLC has agreed to purchase interests in four production sharing contracts offshore Malaysia from Petronas for up to $833 million. The deal is part of EnQuest's strategy to expand its operations in Southeast Asia and mitigate risks associated with its domestic UK operations. The acquisition will add approximately 57,400 barrels of oil equivalent per day (boepd) to EnQuest's production, increasing the contribution from Southeast Asia to 69% of group production.