EnQuest Eyes Expansion with Vietnamese Acquisition

British energy giant EnQuest is set to boost its annual production following a strategic acquisition of Vietnamese assets from Harbour Energy. With production targets between 40,000 and 45,000 barrels per day by 2025, the move marks a significant step in EnQuest's strategy for geographic and commodity diversification.

British energy group EnQuest is poised for increased annual production following the announcement of its acquisition of Vietnamese assets from Harbour Energy, a company listed in London. EnQuest's existing portfolio had an average net production of 44,200 barrels of oil equivalent per day in January. The company is projecting its pro forma 2025 production to range between 40,000 and 45,000 barrels per day.

In 2024, EnQuest reported an average production of 40,736 barrels of oil equivalent per day. Last month, the company revealed its plans to acquire Harbour Energy's Vietnam operations as it aims to extend its reach beyond the North Sea.

According to EnQuest CEO Amjad Bseisu, the firm is steadily advancing its strategy to broaden its international presence, with successive deals in Southeast Asia providing both geographic and commodity diversification. EnQuest is expected to release its final audited results in March.