EnQuest to acquire the business in Vietnam from Harbour Energy for $84m.

EnQuest, an energy transition company, agreed to acquire the business in Vietnam from Harbour Energy, an oil and gas company, for $84m. “Our entry into Vietnam is highly complementary to EnQuest’s well-established and high-performing Malaysia business and significantly enhances the scale of our operations and opportunity in South East Asia. The region is key to EnQuest’s growth and diversification strategy and we are excited by the potential to deploy our proven expertise and operating capability to optimise and enhance the Block 12W assets. We look forward to welcoming our new employees from the existing Harbour Energy team to the Group and are committed to working with our partners, Bitexco and PetroVietnam Exploration Production Corporation Ltd, to explore future opportunities in the assets. As EnQuest continues to work towards a transformational transaction in the UK North Sea, this agreement underlines our commitment to growth, a disciplined approach to M&A, and deploying capital where we see the most favourable returns,” Amjad Bseisu, EnQuest Chief Executive Officer.