StockMarketWire.com - EnQuest said it had been awarded the block PM409 production sharing contract located offshore Malaysia in partnership with Petronas.

EnQuest would operate the block with a participating interest of 85%, with Petronas owning the remaining 15%.

The partners had committed to the drilling of one well during the initial four-year exploration term of the contract. Block PM409 measured approximately 1,700km squared and was located offshore Peninsular Malaysia in water depths of 70 to 100 metres.

The block was in a 'proven hydrocarbon area containing several undeveloped discoveries and is contiguous to the group's existing PM8/Seligi PSC, providing low-cost tie-back opportunities to the group's existing Seligi main production hub,' EnQuest said. At 9:07am: [LON:ENQ] EnQuest Plc share price was +0.19p at 17.79p



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