EnQuest awarded PSC extension
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EnQuest PLC, 9 February 2026
EnQuest awarded Block 12W Production Sharing Contract extension
EnQuest PLC ("EnQuest" or "the Group") is delighted to announce a four-year extension to the Block 12W Production Sharing Contract ('PSC'), awarded by PetroVietnam. Granted on the PSC's existing terms, this extension runs to July 2034 and provides EnQuest and its partners the opportunity to access upside across Block 12W, with prospectivity spread across three gas discoveries and several additional targets.
Since the completion of the acquisition of Block 12W in July 2025, EnQuest has deployed its proven asset management expertise to maximise value from the Chim Sáo and Dua fields; completing three proactive well interventions that boosted Q4 2025 production to 10.4 Kboed (5.5 Kboed net to EnQuest). This PSC extension enables the Group to initiate plans to progress discovered resources into reserves.
Commenting on the extension, EnQuest's General Manager, South East Asia, Radzif Ahmed said:
We are pleased with the production enhancements made during the early period of EnQuest's operatorship and, with this PSC extension, we see opportunities to unlock significant value within the Block. I thank PetroVietnam for putting its trust in EnQuest to lead the next phase of growth for Block 12W."
Ends
For further information please contact:
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EnQuest PLC |
Tel: +44 (0)20 7925 4900 |
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Amjad Bseisu (Chief Executive Officer) |
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Jonathan Copus (Chief Financial Officer) |
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Craig Baxter (Head of Investor Relations and Corporate Affairs) |
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Teneo |
Tel: +44 (0)20 7353 4200 |
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Martin Robinson |
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Harry Cameron |
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Notes to editors
ENQUEST
EnQuest is providing creative solutions through the energy transition. As an independent energy company with operations in the UK North Sea and across South East Asia, the Group's strategic vision is to be the partner of choice for the responsible management of existing energy assets, applying its core capabilities to create value through the transition.
EnQuest PLC trades on the London Stock Exchange.
Please visit our website www.enquest.com for more information on our global operations.
Forward-looking statements: This announcement may contain certain forward-looking statements with respect to EnQuest's expectations and plans, strategy, management's objectives, future performance, production, reserves, costs, revenues and other trend information. These statements and forecasts involve risk and uncertainty because they relate to events and depend upon circumstances that may occur in the future. There are a number of factors which could cause actual results or developments to differ materially from those expressed or implied by these forward-looking statements and forecasts. The statements have been made with reference to forecast price changes, economic conditions and the current regulatory environment. Nothing in this announcement should be construed as a profit forecast. Past share performance cannot be relied upon as a guide to future performance.
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