29 June 2017
Retirement of Dr Philip Nolan
EnQuest PLC announces that Dr Philip Nolan will be stepping down as a Director of the Company with effect from 4 July, when he assumes new responsibilities as Non-Executive Chairman of Associated British Ports Holdings Limited, the direct holding company of Associated British Ports.
Jock Lennox, Chairman of EnQuest said: "Since 2012, Phil has played a significant role in the development of EnQuest PLC, including most recently the milestone of first oil at the Kraken project. I would like to thank him on behalf of the Board for his unstinting and valuable contribution to the Company and wish him well for the future."
In conjunction with an independent search firm, the process of building on the Company's rotation plans continues.
For further information please contact:
EnQuest PLC Tel: +44 (0)20 7925 4900
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. Its operated assets include Thistle/Deveron, Heather/ Broom, the Dons area, the Greater Kittiwake Area, Scolty/Crathes Alma/Galia and Kraken; EnQuest also has an interest in the non-operated Alba producing oil field. At the end of December 2016, EnQuest had interests in 25 UK production licences, covering 35 blocks or part blocks and was the operator of 23 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.