REG - EnQuest PLC - Indonesia – PSC award

EnquestAnnouncement

23/04/2025 07:00

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RNS Number : 7303F  EnQuest PLC  23 April 2025

 

EnQuest PLC, 23 April 2025

 

Indonesia - PSC award

 

EnQuest is pleased to announce that the Ministry of Energy and Minerals of
Indonesia has confirmed EnQuest (and its joint venture partners) as the
winning bidder(s) for two Production Sharing Contract (ePSCf) blocks in Papua
Barat, Indonesia: Gaea and Gaea II.

These blocks present a multi-Tscf unrisked resource potential for EnQuest and
its joint venture partners, and are located as shown below:

 

Subject to the execution of the PSC, EnQuest will be designated as the PSC
operator with a 40% working interest, working with its joint venture partners,
the Tangguh Joint Venture (40% working interest, comprising BP Exploration
Indonesia Limited, MI Berau B.V. (an INPEX and Mitsubishi joint venture
company), CNOOC Southeast Asia Limited, ENEOS Xplora Inc., Indonesia Natural
Gas Resources Muturi, Inc. and KG Wiriagar Petroleum Ltd (a Mitsui company))
and PT Agra Energi Indonesia (20% working interest).

The announcement marks EnQuestfs entry into Indonesia, a country that offers a
broad range of growth opportunities that span the full upstream lifecycle.
This step further expands EnQuestfs South East Asian footprint, adding to the
Groupfs growing momentum in the region, having recently secured an extension
to its gas production in Malaysia and signing of an acquisition of Harbour
Energyfs Vietnam business.

For more information on the licences and their prospectivity, please visit
this link
(https://migas.esdm.go.id/post/Pemerintah-Umumkan-Pemenang-Lelang-Penawaran-Langsung-Wilayah-Kerja-Migas-Tahap-II-Tahun-2024)
.

Ends

 

For further information please contact:

 

 EnQuest PLC                                                      Tel: +44 (0)20 7925 4900
 Amjad Bseisu (Chief Executive Officer)
 Jonathan Copus (Chief Financial Officer)
 Craig Baxter (Head of Investor Relations and Corporate Affairs)

 Teneo                                                            Tel: +44 (0)20 7353 4200
 Martin Robinson
 Harry Cameron

 

ENQUEST

EnQuest is providing creative solutions through the energy transition. As an
independent energy company with operations in the UK North Sea and South East
Asia, 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 the London Stock Exchange.

Please visit our website www.enquest.com (http://www.enquest.com) for more
information on our global operations

 

Forward-looking statements: This announcement may contain certain
forward-looking statements with respect to EnQuestfs expectations and plans,
strategy, managementfs 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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