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EnQuest announced today a major acquisition of Malaysian production assets. The enlarged group is expected to produce more than 100 kboepd, with Southeast Asia representing 69% of 2025 production on a pro forma basis. This is a hugely significant event for EnQuest. It has clearly taken years of work to
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The final phase of UK North Sea consolidation is surely approaching fast. BP has reportedly been reviewing its UK North Sea upstream business as part of a broader portfolio reset. BP’s UK upstream business is special because it is not just a run-off package. A large part of
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The UK North Sea is out of favour. Assets are being valued under a fiscal and political cloud. Sellers are under pressure, capital is scarce and public market valuations reflect little obvious upside. For companies with scale, liquidity, operating capability and shareholder return policies, that environment can be an opportunity