The British oil and gas company EnQuest plc has signed an agreement to acquire the assets of Harbour Energy plc in Vietnam. This is reported in a press release from EnQuest.
The $84 million deal includes a 53.13% stake in the Chim Sao and Dua fields (Vietnam). Net production at the fields in 2025 is projected to reach 5.3 thousand barrels per day, with further significant growth potential associated with well repairs.
EnQuest plans to work with partners Bitexco and PetroVietnam Exploration Production Corporation Ltd to explore future opportunities in the assets. The transaction is expected to be completed in the second quarter of 2025.
The acquisition of assets in Vietnam is an important addition to EnQuest's business in Malaysia and significantly expands the scope of operations in Southeast Asia, which is a key region for EnQuest's growth and diversification strategy through investments in assets with fast payback, low capital costs and low carbon levels.
EnQuest is a British oil and gas production and development company for the development of oil and gas assets on the British continental shelf. The headquarters is located in London (England).
Harbour Energy plc is engaged in the exploration, development and production of oil and gas. The company owns assets in the UK, on the Norwegian continental shelf, in Indonesia, Vietnam and Mexico. The headquarters is located in London (UK).
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