EnQuest PLC, 28 August
2024
EnQuest expands
Decommissioning Operator role in the Greater Kittiwake
Area
EnQuest Heather Limited
('EnQuest'), owner and
operator of the Greater Kittiwake Area ('GKA')
fields, along with Shell U.K. Limited
('Shell') and Dana
Petroleum (E&P) Limited ('Dana'), are
responsible for the decommissioning
of the GKA fields.
Recognising EnQuest's ability to
deliver safe results, market-leading decommissioning
performance and cost and schedule
efficiencies, the joint venture has appointed EnQuest to
continue as GKA operator for the full
decommissioning scope with Shell transferring its
decommissioning management role to
EnQuest. Note: Shell had retained operator
responsibility
for decommissioning the Kittiwake
platform and the Mallard field, a subsea tie-back to the
Kittiwake platform, when it divested
the GKA fields.
The GKA infrastructure is expected to
continue production into the late 2020's with EnQuest
proactively planning for a managed
decommissioning programme post cessation of production.
EnQuest is delivering on its
strategic objective to be the preferred decommissioning operator
in
the North Sea. EnQuest has
demonstrated market leading decommissioning operator
performance through execution of
complex decommissioning projects, including the removal
of
the EnQuest Producer and Northern
Producer facilities and the ongoing and extensive well
plug
and abandonment ('P&A') scopes at
the Thistle and Heather fields at 40% below benchmark
costs. EnQuest is on track to
complete the P&A of 77 wells, which represents 60% of
the
EnQuest operated suspended and
shut-in wells, within 5 years of cessation of
production.
John Allan, EnQuest Decommissioning
Director, said "this is a great vote of confidence in
EnQuest by our GKA partners Shell and
Dana. It reflects our strong track record of safe,
efficient
and successful execution of complex
decommissioning scopes which is an important part of our
company growth strategy. "
Ends
For further information please
contact:
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EnQuest PLC
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Tel: +44 (0)20 7925 4900
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Amjad Bseisu (Chief Executive
Officer)
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Jonathan Copus (Chief Financial
Officer)
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Craig Baxter (Head of Investor
Relations and Corporate Affairs)
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Teneo
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Tel: +44 (0)20 7353 4200
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Martin Robinson
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Harry Cameron
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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's strategic vision is to be the partner of choice for the
responsible management of existing energy assets, applying its core
capabilities to create value through the transition.
EnQuest PLC trades the London Stock
Exchange.
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.