ENQUEST PLC ANNOUNCES AGREEMENT WITH BP ON THISTLE DECOMMISSIONING
31 January 2018 Following the completion of the acquisition of an initial 25% interest in the Magnus oil field on 1 December 2017, EnQuest PLC ('EnQuest') is pleased to announce it has agreed with BP to undertake the management of the physical decommissioning activities for Thistle and Deveron. Under the terms of this agreement with BP: · EnQuest will receive $30 million in cash in exchange for undertaking the management of the physical decommissioning and making payments by reference to 3.7% of the gross decommissioning costs of the Thistle and Deveron fields when spend