UK independent EnQuest is set to next month spud a key wildcat on its Block PM 409 production sharing contract offshore Peninsular Malaysia, where success could translate to a fast-track development tied back to facilities on its contiguous block.
The Keranji -1 probe is understood to the commitment well that the Block PM 409 partners are required to drill before year-end under the terms of their PSC terms.
The Keranji-1 well will be drilled by Borr Drilling’s jack-up Borr Idun, which this week is due to be towed from the Bekok field offshore Terengganu to the Keranji prospect, which is also offshore the same state.
The Borr Idun’s tow is being supported by two Malaysia-flagged anchor handling tug supply vessels, the SK Pioneer and Perdana Marathon.
The approximate 1700-square kilometre Block PM 409 is located offshore Peninsular Malaysia in water depths of between 70 to 100 metres.
EnQuest earlier noted that the block is in a proven hydrocarbon area containing several undeveloped discoveries and is contiguous to the company’s PM8/Seligi PSC, thereby providing low-cost tie-back opportunities to its existing Seligi main production hub.
The operator declined to provide Upstream with any details of, or comment on, the upcoming Malaysia exploration well, simply referring to its December 2019 statement relating to the award of the Block PM 409 PSC.
EnQuest chief executive, Amjad Bseisu, at the time, said of the asset: "The block contains several undeveloped discoveries providing future opportunities for EnQuest to demonstrate its proven capabilities in low-cost drilling and near-field development."
EnQuest operates the offshore asset with an 85% interest and its sole partner is Malaysia national upstream company Petronas Carigali on 15%.
Within the initial four-year exploration term of the PSC, the partners are committed to the drilling of one well.