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) |
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Jonathan Copus (Chief Financial Officer) |
|
Craig Baxter (Head of Investor Relations and Corporate Affairs) |
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Teneo | Tel: +44 (0)20 7353 4200 |
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.
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