EnQuest Buys Contracts

EnQuest's (ENQ.L) Malaysian subsidiary agreed to buy participating interests in production sharing contracts offshore Malaysia for $833 million. The deal comprises three packages covering interests in four offshore production sharing contracts, according to a Wednesday filing. EnQuest Petroleum Production Malaysia will enter into three farm‑out agreements with Petronas Carigali and E&P Malaysia Venture. Of the total consideration, $554 million is payable at completion, expected on Dec. 31. The transaction would constitute a reverse takeover under UK listing rules. The deal remains subject to customary completion conditions.