LONDON, June 13 British independent oil producer
EnQuest has agreed to take over ExxonMobil's
share in the Malaysian Seligi oil field and the associated
production sharing contract.
The acquisition, which is subject to regulator approval,
will give EnQuest a 50 percent stake in the field which it will
start operating once the deal is completed.
Malaysia's Petronas will retain the other 50 percent.
The Seligi oil field, EnQuest's third Malaysian project,
will boost the company's net production by around 5,000 barrels
of oil equivalent per day and add 11 million barrels of oil
equivalent to its net reserves.
"This acquisition follows from our recent partnership with
Petronas on the Tanjong Baram field and is a significant
expansion to our Malaysian operation," said EnQuest chief
executive Amjad Bseisu.
(Reporting by Karolin Schaps, Editing by Paul Sandle)