Company Announcements

EnQuest expands decommissioning operator role

Source: RNS
RNS Number : 8952B
EnQuest PLC
28 August 2024
 

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:

 

EnQuest PLC

Tel: +44 (0)20 7925 4900

Amjad Bseisu (Chief Executive Officer)

 

Jonathan Copus (Chief Financial Officer)

 

Craig Baxter (Head of Investor Relations and Corporate Affairs)

 

 

 

Teneo

Tel: +44 (0)20 7353 4200

Martin Robinson

 

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'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.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
UPDGZGZRGNNGDZZ