EnQuest PLC EnQuest Malaysia Update (6676Y)

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RNS Number : 6676Y

EnQuest PLC

09 May 2023

EnQuest PLC, 09 May 2023

EnQuest Malaysia Update

EnQuest is pleased to announce that it has, on behalf of the PM8 (Extension) ('PM8E') production sharing contract ('PSC') parties, signed an agreement with PETRONAS to support Peninsular Malaysia's gas demand by providing additional gas from the Seligi field through the existing PM8E PSC facilities until the end of 2025.

This agreement is expected to increase EnQuest's gas production by around 25 mmscf per day (50 mmscfd gross), initially from associated gas, with the partnership assessing the drilling of additional gas-producing wells over time. Increasing gas production aligns with EnQuest's strategy of responsibly managing existing energy assets, enhancing exposure to gas and international assets, and will contribute to a reduction in EnQuest's carbon intensity.

Commenting on the agreement, EnQuest Chief Executive Officer, Amjad Bseisu said: "I am pleased with the progress on this agreement enabling Enquest to supply gas through existing infrastructure and look forward to continuing to work with our valued partner Petronas on unlocking further potential supplies."

Ends

For further information, please contact:

 
 EnQuest PLC                                            Tel: [phone] 
                                                         4900 
 Amjad Bseisu (Chief Executive) 
 Salman Malik (Chief Financial Officer) 
 Ian Wood (Head of Investor Relations, Communications 
  & Reporting) 
 Craig Baxter (Senior Investor Relations Manager) 
 
 Teneo                                                  Tel: [phone] 
                                                         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'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 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.

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May 09, 2023 02:00 ET (06:00 GMT)