ENQUEST PLC, 8 January 2018.
EnQuest PLC ('EnQuest') is pleased to announce the appointment of Laurie Fitch as a Non-Executive Director of the EnQuest Board with effect from 8 January 2018. On joining the Board, Laurie Fitch will become a member of the Remuneration and Risk Committees.
Laurie has developed an extensive knowledge of the utilities and industrials sectors having worked for more than 20 years in a variety of investment and corporate finance roles. She is currently a partner in the Strategic Advisory Group of PJT Partners. Ms. Fitch is also a member of the Audit and Finance and Operations subcommittees of the Tate Board of Trustees.
Jock Lennox, Chairman of EnQuest:
"I am delighted to have Laurie join the Board of EnQuest. She brings with her a wealth of finance and industrial experience and I look forward to working with her as a member of the Board."
Laurie Fitch's Biography:
Laurie Fitch has a BA in Arabic and an MA from Georgetown University's School of Foreign Service, where she is Chair of the University's Center for Contemporary Arab Studies. Ms. Fitch is currently a Partner in the Strategic Advisory Group at PJT Partners, based in London. Ms. Fitch spent a significant part of her career as an Equity Analyst and Portfolio Manager at TIAA CREF and Artisan Partners, where she invested in the global industrials, utility and infrastructure sectors. Ms. Fitch spent four years in the Global Power and Global Industrials groups at Morgan Stanley, most recently as Co-Head of the Global Industrials Group in Europe, prior to joining PJT Partners in 2016.
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.
For further information please contact:
EnQuest PLC Tel: +44 (0)20 7925 4900
Amjad Bseisu (Chief Executive)
Jonathan Swinney (Chief Financial Officer)
Stefan Ricketts (Company Secretary)
Ian Wood (Communications & Investor Relations)
Tulchan Communications Tel: +44 (0)20 7353 4200
EnQuest is one of the largest UK independent producers in the UK North Sea. EnQuest PLC trades on both the London Stock Exchange and the NASDAQ OMX Stockholm. At the end of November 2017, its operated assets included Thistle/Deveron, Heather/ Broom, the Dons area, the Greater Kittiwake Area, Scolty/Crathes Alma/Galia, Kraken, Magnus and the Sullom Voe Oil Terminal; EnQuest also has an interest in the non-operated Alba producing oil field. At the end of June 2017, EnQuest had interests in 24 UK production licences and was the operator of 22 of these licences.
EnQuest believes that the UKCS represents a significant hydrocarbon basin, which continues to benefit from an extensive installed infrastructure base and skilled labour. EnQuest believes that its assets offer material organic growth opportunities, driven by exploitation of current infrastructure on the UKCS and the development of low risk near field opportunities.
EnQuest is replicating its model in the UKCS by targeting previously underdeveloped assets in a small number of other maturing regions; complementing its operations and utilising its deep skills in the UK North Sea. In which context, EnQuest has interests in Malaysia where its operated assets include the PM8/Seligi Production Sharing Contract and the Tanjong Baram Risk Services Contract.