EnQuest PLC has achieved production at the Seligi 1b natural gas expansion project, expected to reach its capacity of about 6,000 barrels of oil equivalent a day (boed) in January 2026.
The start-up was achieved nine months ahead of schedule and 10 months after project sanction, according to EnQuest, a London-based producer focused on late-life assets.
“This accelerated delivery underlines EnQuest’s commitment to investing in quick payback projects in lower-cost jurisdictions, with the added benefit that the production sharing contract mechanisms across our Southeast Asia business provide natural protection against lower commodity prices”, EnQuest chief executive Amjad Bseisu said in the company’s “operations update”.
EnQuest operates Seligi with a 50 percent stake through the PM8 Extension Production Sharing Contract (PM8E PSC), which also includes the PM8 contract area. EnQuest acquired Seligi and PM8 from Exxon Mobil Corp in 2014.
Late last year, state-owned Petroliam Nasional Bhd signed an agreement with EnQuest and E&P Malaysia Venture Sdn Bhd to annex Seligi Field Non-Associated Gas and Condensate to the PM8E PSC.
“In addition, the parties have also agreed on the key terms for the PM8E Upstream Gas Sales Agreement relating to the supply of natural gas produced from PM8E PSC”, EnQuest said in a press release December 17, 2024.
“The agreement enables the PM8E PSC parties to develop and commercialize the non-associated gas resources in the PM8E PSC contract area and, in line with expected demand, supply around 70 MMscf [million standard cubic feet] per day of sales gas.
“EnQuest will produce the additional Seligi field non-associated gas by modifying its existing infrastructure, which provides a cost-efficient way to deliver new volumes into the Peninsular Malaysia gas system and will help the nation meet its increasing energy needs”.
In its latest operations update, EnQuest reported a production of 45,487 barrels of oil equivalent a day in the first 11 months of 2025, with production efficiency of 89 percent.
“2025 full-year production is expected to be at, or above, the top end of the Group’s guidance of 40 to 45 Kboed (figures including pro forma Vietnam volumes)”, it said.
Earlier this year EnQuest acquired Harbour Energy PLC’s Vietnamese business including a 15.13 percent operating stake in the Chim Sáo and Dua production fields, as announced by EnQuest July 10.
The operations update added, “In the UK North Sea, two infill wells drilled on Magnus contributed to a 1.1 Kboed [thousand boed] increase in asset production. Preparations are underway for a six-well program that will commence in H1 2026”.
“Against a backdrop of lower and more volatile oil prices and a weak U.S. dollar, investment and transaction costs were weighted toward H2 2025”, EnQuest said in the update. “EnQuest has managed this through commodity and currency hedging, and steps to reduce forward costs and maximize group cash flow and liquidity”.
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