EnQuest, Perenco seal offshore production acquisitions

EnQuest has completed the acquisition of Harbour Energy’s E&P business offshore Vietnam, comprising a 53.125% operated interest in the producing Chim Sáo and Dua fields in Block 12W.

As of Jan. 1, this represented net 2P reserves and 2C resources in the two fields of 7.5 MMboe and 4.9 MMboe, respectively.

EnQuest will look to prove up additional prospectivity on the block, applying its late-life and FPSO asset management experience in the UK North Sea and offshore Peninsular Malaysia to convert discovered resources into reserves (these include three gas discoveries and other targets).

The company will aim to extend the production sharing contract beyond the present expiry date of November 2030. 

Since signing the original transaction, the team in Vietnam has completed an annual maintenance and overseen three of six scheduled well interventions; these have added production of about 1,200 boe/d.

There is potential for further upside arising from intervention activity and the positive impact of a production-enhancing chemical soaking process that was implemented during the shutdown. 

Block 12W comprises the producing oil and gas fields Chim Sáo, Chim Sáo North West (CSNW) and Dua in the Nam Con Son Basin, 400 km southwest of Vung Tau. The other partners are Bitexco and PetroVietnam Exploration Production Corp.

Chim Sáo was discovered in 2006 and delivered first oil in October 2011 via a wellhead platform. Oil from this field and CSNW is exported via the FPSO Lewek Emas, piped to Vung Tau near Ho Chi Minh City.

Currently there are 14 active oil producer wells on Chim Sáo and seven water injectors. CSNW has a single injector and producer pair.

Dua, another oil and gas field, was developed as a three-well subsea tieback to Chim Sáo, with first production in July 2014.

Perenco acquires Woodside's offshore T&T assets

Offshore Trinidad & Tobago (T&T), Perenco has finalized its acquisition of the Greater Angostura oil and gas production fields and associated production facilities from Woodside Energy.

Perenco already operated the Teak, Samaan and Poui (TSP) and Cashima, Amherstia, Flamboyant and Immortelle (CAFI) fields.

The transaction encompassed two Woodside entities, their interests in and operatorship of the 2(C) and 3(A) production sharing contracts, and an onshore terminal.

The Greater Angostura offshore fields have been developed with seven fixed platforms and subsea facilities on the Angostura and Ruby oil and gas fields, and they currently produce about 300 MMcf/d, representing about 12% of Trinidad & Tobago’s domestic gas production.

Perenco CEO Armel Simondin said, “This milestone will increase our gross production levels in excess of 100,000 boepd and allows us to further strengthen our partnership with the government of Trinidad & Tobago. We are confident that our specific skill in mature field assets and marginal resources will secure long-lasting production from the Angostura asset…”

The company now expects to have a gross gas production base in T&T of more than 500 MMcf/d, and oil production of more than 10,000 bbl/d of oil.