Enquest seeks more low-cost deals

The UK and Malaysia-focused producer is in the market for assets, but ideally those without a price tag

“We are in the market looking for assets,” says Amjad Bseisu, CEO of UK independent Enquest, “[but] the focus will be leveraging our capabilities. This means looking at the Magnus or [Malaysian] PM8/Seligi-type deals where there will be little or no equity upfront… to take over assets.” And the firm is looking at whether it can use its Enquest Producer floating production, storage and offloading (FPSO) vessel, currently berthed at Nigg in northwest Scotland after the Alma/Galia field began a decommissioning process, as a tool in such a deal. “We are seeing more offers for outright sale of the Enquest Producer,” says Bseisu . “But we are also looking at some options internally to see if we ca