Report on Payments to Governments
ENQUEST PLC, 19 June 2026
Reports on Payments to Governments for the Year ended 31 December 2025
This report provides information in accordance with DTR 4.3A in respect of payments made by the Company to Governments for the year ended 31 December 2025 and in compliance with the Reports on Payments to Governments Regulations 2014 (SI 2014/3209).
This report is available to download from: https://www.enquest.com/environmental-social-and-governance/governance/business-conduct. This report will also be made available on the National Storage Mechanism.
Basis of preparation
The payments disclosed, which are on a cash basis, are detailed in accordance with where the obligation for the payment arose (i.e. at a project or corporate level). Where a payment or a series of related payments do not exceed £86,000, they are not required to be disclosed under the UK Regulations, however this has been disclosed in aggregate at a corporate level for clarity over obligations.
Malaysian payments in respect of production entitlements, supplementary payments, royalties and research CESS payments are paid to PETRONAS (Petroliam Nasional Berhad, the National Oil Company of Malaysia). Vietnamese payments in respect of production entitlements, royalties and education payments are paid to PetroVietnam (National Oil Company of Vietnam). All other payments disclosed in accordance with the Directive have been made to national Governments, either directly or through a Ministry or Department of the national Government.
For the year ended 31 December 2025
Project/entity name
Licence
Production entitlements
Taxes
Royalties
Bonus Payments
Licence fees
Education Commitment Payment
Research CESS
Supple-mentary payments
TOTAL
mboe
$'000
$'000
$'000
$'000
$'000
$'000
$'000
$'000
$'000
Kraken & Kraken North, West of Kraken
P1077 & P2632
-
-
-
-
-
702
-
-
-
702
Greater Kittiwake Area
P73 & P238
-
-
-
-
-
248
-
-
-
248
Thistle & Devron
P236 & P475
-
-
-
-
-
443
-
-
-
443
Scolty & Crathes
P1107 & P1617
-
-
-
-
-
632
-
-
-
632
Magnus
P193
-
-
-
-
--
514
-
-
-
514
Bressay
P234, P493, P920 & P977
-
-
-
-
-
501
-
-
-
501
Bentley
P1078
-
-
-
-
-
714
-
-
-
714
Corporate
-
-
102,840
-
-
141
-
-
-
102,981
Total United Kingdom
-
-
102,840
-
-
3,895
-
-
-
106,735
PM-8E
592
39,933
-
1,554
-
1,000
-
617
2,053
45,157
Corporate
-
-
7,217
-
-
-
-
-
-
7,217
Total Malaysia
592
39,933
7,217
1,554
-
1,000
-
617
2,053
52,374
Block 12W
74
3,915
-
3,126
-
-
281
-
-
7,322
Corporate
-
-
5,849
-
-
-
-
-
-
5,849
Total Vietnam
74
3,915
5,849
3,126
-
-
281
-
-
13,171
Gaea
-
-
-
-
120
-
-
-
-
120
Gaea II
-
-
-
-
120
-
-
-
-
120
Total Indonesia
-
-
-
-
240
-
-
-
-
240
Total Group
666
43,848
115,906
4,680
240
4,895
281
617
2,053
172,520
For the year ended 31 December 2025
Project/entity name
Licence
Production entitlements
Taxes
Royalties
Bonus Payments
Licence fees
Education Commitment payments
Research CESS
Supple-mentary payments
TOTAL
mboe
$'000
$'000
$'000
$'000
$'000
$'000
$'000
$'000
$'000
HM Revenue and Customs
-
-
102,840
-
-
-
-
-
-
102,840
North Sea Transition Authority
-
-
-
-
-
3,283
-
-
-
3,283
Department for Energy Security & Net Zero
-
-
-
-
-
612
-
-
-
612
Total United Kingdom
-
-
102,840
-
-
3,895
-
-
-
106,735
PETRONAS
592
39,933
-
1,554
-
1,000
-
617
2,053
45,157
Malaysian Inland Revenue Board
-
-
7,217
-
-
-
-
-
-
7,217
Total Malaysia
592
39,933
7,217
1,554
-
1,000
-
617
2,053
52,374
PetroVietnam
74
3,915
-
3,126
-
-
281
-
-
7,322
HCM Tax Department
-
-
5,849
-
-
-
-
-
-
5,849
Total Vietnam
74
3,915
5,849
3,126
-
-
281
-
-
13,171
Directorate General of Oil and Gas
-
-
-
-
240
-
-
-
-
240
Total Indonesia
-
-
-
-
240
-
-
-
-
240
Total Group
666
43,848
115,906
4,680
240
4,895
281
617
2,053
172,520
Production entitlements expressed in barrels
This includes non-cash royalties and state non-participating interest paid in barrels of oil or gas out of EnQuest's working interest share of production in a licence. The figures disclosed are produced on an entitlement basis rather than a liftings basis. It does not include the Government's or National Oil Company's working interest share of production in a licence. Production entitlements are assessed on a quarterly basis and are valued at the price used to determine entitlement under the terms of the production sharing contract.
Taxes
This includes cash tax paid by EnQuest on its income, profits or production, including capital gains. Income taxes paid during the reporting period can be in respect of current period profits but also profits of prior periods. The actual timing of cash tax payments varies depending on the jurisdiction and the payment regulations in force. Income taxes also include any cash tax rebates received from the Government or revenue authority during the year and excludes fines and penalties.
Royalties
This includes cash royalties paid to Governments during the year for the extraction of oil or gas. The terms of the royalties are described within EnQuest's Production Sharing Contracts ('PSC') and can vary from project to project within one country. Royalties paid in kind have been recognised within the production entitlements category.
Licence fees
This includes total, rather than working interest share of, licence fees, rental fees, entry fees and other levies or consideration for licences and/or concessions paid for access to an area during the year (with the exception of signature bonuses which are captured within bonus payments if applicable).
Bonus Payments
This includes signature bonus payments made to government entities in connection with the award of Production Sharing Contracts ('PSCs'). The Group made signature bonus payments in respect of the Gaea PSC and Gaea II PSC in Indonesia.
Research CESS
Research CESS payments are contractual amounts due under the PM-8E PSC and are based on EnQuest's entitlement to production. These payments are made to PETRONAS.
Supplementary payments
Supplementary payments are required under the PM-8E PSC and are based on EnQuest's entitlement to profit oil and profit gas. These payments are made to PETRONAS.
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
Notes to editors
ENQUEST
EnQuest is unlocking value from energy assets. Responsibly. As an independent energy company with operations in the UK North Sea and across South East Asia, the Group's strategic vision is to lead as a safe, efficient operator of mature and underinvested oil and gas assets; sustainably extending field lives and delivering superior value across the asset lifecycle, as part of a just energy transition.
EnQuest PLC trades on 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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