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RNS Number : 6579I

EnQuest PLC

06 December 2022

EnQuest PLC, 6 December 2022

Chairman succession

EnQuest PLC ('EnQuest') is pleased to announce that it has appointed Gareth Penny as Non-Executive Chairman of the Group with effect from 6 December 2022, replacing Martin Houston who will step down from the Board on the same day. On joining the Board, Gareth will also become Chair of the Governance and Nomination Committee.

Gareth brings a wealth of board level experience to EnQuest, having chaired both public and private boards. He is currently chairman of Ninety One Plc and Ltd, having previously been chairman of Norilsk Nickel, Russia's largest diversified mining and metals company. Gareth also served on the board of Julius Baer Group for 12 years. Gareth has extensive experience in extractive industries, having spent 22 years with De Beers and Anglo American, the last five of which he was group chief executive officer of De Beers.

The Board would like to thank Martin Houston for his important contribution to the Company during his Chairmanship.

Martin Houston, said:

"I am delighted that Gareth has been appointed to the Board as my successor. His extensive board experience will be valuable as EnQuest navigates the energy transition. I have thoroughly enjoyed my time working with my colleagues on the EnQuest Board and the Company has made significant progress over the last three-years."

EnQuest Chief Executive, Amjad Bseisu, said:

"On behalf of the Board and the management team, I would like to thank Martin for his important contribution to EnQuest during his tenure and our Senior Independent Director, Howard Paver for running a thorough succession process. I would like to also welcome Gareth as our new Chairman for the next stage of our journey. With his extensive Board level experience, Gareth will provide invaluable contributions to EnQuest as we continue to execute on our strategy."

EnQuest Chairman, Gareth Penny said:

"I am delighted to be joining EnQuest at this exciting time in the Company's development. EnQuest is a transition company, being a proven leader in late-life asset management and has an exciting opportunity to repurpose assets and deliver on its decarbonisation ambitions. I look forward to working with my Board colleagues and the management team as we implement EnQuest's strategy."

This announcement is made pursuant to paragraph 9.6.13R of the Listing Rules of the UK Listing Authority ('UKLA'). There are no other disclosures to be made pursuant to the paragraph 9.6.13R (1)-(6) of the Listing Rules.

Ends

For further information please contact:

 
 EnQuest PLC                                            Tel: +44 (0)20 7925 
                                                         4900 
 Amjad Bseisu (Chief Executive) 
 Salman Malik (Chief Financial Officer) 
 Ian Wood (Head of Investor Relations, Communications 
  & Reporting) 
 Craig Baxter (Senior Investor Relations & 
  Communications Manager) 
 
 Tulchan Communications                                 Tel: +44 (0)20 7353 
                                                         4200 
 Martin Robinson 
 Martin Pengelley 
 Harry Cameron 
 

Notes to editors

ENQUEST

EnQuest is providing creative solutions through the energy transition. As an independent energy company with operations in the UK North Sea and Malaysia, the Group aims to responsibly optimise production, leverage existing infrastructure, deliver a strong decommissioning performance and explore new energy and further decarbonisation opportunities 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.

Please visit our website www.enquest.com for more information on our global operations.

Forward-looking statements: This announcement may contain certain forward-looking statements with respect to EnQuest's expectations and plans, strategy, management's objectives, future performance, production, reserves, costs, revenues and other trend information. These statements and forecasts involve risk and uncertainty because they relate to events and depend upon circumstances that may occur in the future. There are a number of factors which could cause actual results or developments to differ materially from those expressed or implied by these forward-looking statements and forecasts. The statements have been made with reference to forecast price changes, economic conditions and the current regulatory environment. Nothing in this announcement should be construed as a profit forecast. Past share performance cannot be relied upon as a guide to future performance.

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