UK energy firm acquires Harbour Energy’s Vietnam operations
British energy company EnQuest announced on January 22 its acquisition of Harbour Energy’s operations in Vietnam as part of its strategy to expand internationally.
The deal, valued at US$84 million, will see EnQuest make a net payment of US$35 million upon completion. This acquisition extends EnQuest’s presence in Southeast Asia beyond its existing market in Malaysia.
The agreement includes a 53.125% stake in Chim Sao and Dua oil fields offshore Vietnam and is expected to be finalised by the second quarter of this year.
Headquartered in the UK, EnQuest focuses on energy transition initiatives, emphasising energy security and decarbonisation.
The company specialises in mature and underdeveloped assets in the UK and Malaysia, aiming to drive organic growth by optimising production and maximising internal revenue.
