As the new year brings with it a wide range of new upstream developments that are set to come online, EnQuest, a major UK-based energy company focused on the UK North Sea and Malaysia, has brought the Seligi gas project online ahead of schedule in Southeast Asia. The remarkably accelerated timeline exemplifies the company’s approach to upstream gas production on the global stage.
EnQuest accelerates the commissioning timeline of the Seligi gas project in Malaysia
In the ever-volatile global energy market, it has become a rarity for projects to be completed on schedule, let alone ahead of the expected timeline. However, that is exactly what the UK-based energy major has managed at its Seligi gas project in Malaysia.
Notably, the company stated that due to its expansion in Southeast Asia and its ongoing developments in the UK North Sea, it expected to exceed its output forecast for last year and reach the promised land of expanding its already impressive 40,000 to 45,000 barrels of oil equivalent per day target.
The company has now stated that it has completed the Seligi 1b gas project in Malaysia, an astonishing nine months ahead of schedule, with full-scale production expected to kick off sometime in January. This only provides a platform for continued growth across the UK and Southeast Asia markets.
“EnQuest continues to demonstrate operational excellence across our portfolio, both in the UK North Sea and South East Asia, and we expect to again deliver against all 2025 guidance targets. We are pleased to announce that delivery of gas on our Seligi 1b project in Malaysia was achieved in December, nine months ahead of schedule, with full production expected in January 2026. – EnQuest Chief Executive, Amjad Bseisu
EnQuest also boosted its presence in the Asian energy markets
EnQuest has built a reputation on its ability to deliver projects on time and within the allocated budget, but as with all North Sea producers, it faces a significant challenge in contending with the UK’s high windfall tax on North Sea oil producers.
CEO Amjad Bseisu stated that the UK government’s Autumn Budget Statement is “a disappointment” for the litany of North Sea oil producers and has drawn sharp criticism from energy companies in the region. He also noted that the company’s geographical expansion in Asia and the notable UK tax losses strengthen its consolidation ambitions.
“In the UK, the Autumn Budget Statement was a disappointment for the North Sea oil and gas sector. However, EnQuest remains a top-quartile operator and holds significant UK tax losses, which are important components in the ongoing consolidation of the North Sea.” – EnQuest Chief Executive, Amjad Bseisu
The company has also been acquiring new assets in the Asian energy market over the past year, and recently expanded its footprint in Vietnam and Malaysia. Despite some significant challenges in the global energy market as the world faces tightening margins in the Asian market, EnQuest aims to boost its output capacity in the UK and Asia, respectively.
“The geographic diversification that we continue to deliver through rapid expansion in South East Asia, confirms that EnQuest’s growth strategy remains robust and provides a platform from which to maximise shareholder value.” – EnQuest Chief Executive, Amjad Bseisu
EnQuest has secured a new loan facility to continue its rapid expansion of operations
The company has recently secured a new loan facility that will boost its expansion ambitions in the North Sea and the Southeast Asia market. With Malaysia planning a major pivot to biofuel production this year, the market is open and ready for the next major energy company to expand operations in the Asian powerhouse. 2026 will see EnQuest continue to expand operations across its two main markets.
