REG - EnQuest PLC - EnQuest awarded PSC extension

EnquestAnnouncement

09/02/2026 07:00

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RNS Number : 1414S  EnQuest PLC  09 February 2026

 

EnQuest PLC, 9 February 2026

EnQuest awarded Block 12W Production Sharing Contract extension

 

EnQuest PLC ("EnQuest" or "the Group") is delighted to announce a four-year
extension to the Block 12W Production Sharing Contract ('PSC'), awarded by
PetroVietnam. Granted on the PSC's existing terms, this extension runs to July
2034 and provides EnQuest and its partners the opportunity to access upside
across Block 12W, with prospectivity spread across three gas discoveries and
several additional targets.

 

Since the completion of the acquisition of Block 12W in July 2025, EnQuest has
deployed its proven asset management expertise to maximise value from the Chim
Sáo and Dua fields; completing three proactive well interventions that
boosted Q4 2025 production to 10.4 Kboed (5.5 Kboed net to EnQuest). This PSC
extension enables the Group to initiate plans to progress discovered resources
into reserves.

 

Commenting on the extension, EnQuest's General Manager, South East Asia,
Radzif Ahmed said:

We are pleased with the production enhancements made during the early period
of EnQuest's operatorship and, with this PSC extension, we see opportunities
to unlock significant value within the Block. I thank PetroVietnam for putting
its trust in EnQuest to lead the next phase of growth for Block 12W."

 

  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 providing creative solutions through the energy transition. As an
independent energy company with operations in the UK North Sea and across
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 (https://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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