KeyfactsEnergy

EnQuest

Contacts

EnQuest
5th Floor, Cunard House
15 Regent Street
London, SW1Y 4LR
United Kingdom

Tel: +44 (0)20 7925 4900

EnQuest, Kuala Lumpur
Level 12, Menara Maxis
Kuala Lumpur City Centre
50088 Kuala Lumpur
Malaysia

Tel: +60 3 2783 1888

Description

EnQuest is an independent production and development company with operations in the UK North Sea and Malaysia. The Group’s strategic vision is to be the operator of choice for maturing and underdeveloped hydrocarbon assets by focusing on operational excellence, differential capability, value enhancement and financial discipline.

EnQuest PLC trades on both the London Stock Exchange and the NASDAQ OMX Stockholm. Its UK operated assets include Thistle/Deveron, Heather/Broom, the Dons area, Magnus, the Greater Kittiwake Area, Scolty/Crathes Alma/Galia and Kraken; EnQuest also has an interest in the non-operated Alba producing oil field. At the end of December 2019, EnQuest had interests in 17 UK production licences and was the operator of 15 of these licences. EnQuest’s interests in Malaysia include the PM8/Seligi and PM409 Production Sharing Contracts and the Tanjong Baram Risk Services Contract, all of which the Group operates.

Production and reserves

Group net production averaged 50,408 Boepd for the year to date February 2022.

Net 2P reserves at the end of 2020 were c.194 MMboe (2020: c.189 MMboe) and have been audited on a consistent basis with prior years. During the year, the Group produced 8.2% of its year-end 2020 2P reserves base but this was more than offset by the acquisition of Golden Eagle, which resulted in an addition of c.18 MMboe. Net 2C resources were c.402 MMboe (2020: c.164 MMboe), an increase of 145.1% compared to the end of 2020 primarily as a result of the acquisitions of equity interests in the Bressay field and Bentley discovery, which combined added 246 MMboe.

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