EnQuest Secures Extension for Vietnam's Offshore Block

(Credit: EnQuest)

EnQuest has been grated a four-year extension to the Block 12W production sharing contract by PetroVietnam.

The extension, granted on the contract’s existing terms, runs until July 2034 and allows EnQuest and its partners to continue development activities across Block 12W, which contains three gas discoveries and several additional exploration targets.

EnQuest acquired Block 12W in July 2025 and said it has since carried out three well interventions at the Chim Sáo and Dua fields, increasing production in the fourth quarter of 2025 to 10.4 thousand barrels of oil equivalent per day, including 5.5 thousand barrels per day net to EnQuest.

The company said the contract extension will enable it to advance plans to convert discovered resources into reserves.

“We are pleased with the production enhancements made during the early period of EnQuest’s operatorship and, with this PSC extension, we see opportunities to unlock significant value within the Block. I thank PetroVietnam for putting its trust in EnQuest to lead the next phase of growth for Block 12W,” said Radzif Ahmed, General Manager, South East Asia at EnQuest.