Oil firm Enquest has announced the award of a production block off the coast of Malaysia.
The block (PM409) will see Enquest take a 85% stake, with Malaysian firm Petronas taking the remaining 15% stake.
The block contains a number of “undeveloped discoveries”, EnQuest said.
The four-year drilling and exploration term will see EnQuest and Petronas drill one well.
EnQuest chief executive, Amjad Bseisu, said: “We are delighted to have been awarded the Block PM409 PSC and to expand our presence in Malaysia.
“The block contains several undeveloped discoveries providing future opportunities for EnQuest to demonstrate its proven capabilities in low-cost drilling and near-field development.
“We would like to thank PETRONAS for their confidence in awarding us this block and we look forward to continuing our productive partnership with PETRONAS Carigali.”
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