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2016-10-31

EnQuest PLC: EnQuest's Kraken FPSO vessel has left the shipyard for deep water anchorage

ENQUEST PLC, 31 October 2016.

EnQuest PLC is pleased to announce that the Floating, Production,
Storage and Offloading ('FPSO') vessel for the Kraken development has
completed its shore-based commissioning activities at the quayside in
Singapore and has also completed the vessel's inclination testing
programme. It has left the yard and is now sailing to deep water
anchorage, to undertake commissioning work on the water injection
pumps, HSP power fluid pumps, sulphate reduction packages, lifeboats
and fire, water and deluge systems.

The FPSO is on schedule to sailaway to the North Sea during this
quarter as planned. The journey should take approximately 50 days,
bringing the vessel to the Kraken field on course for first oil in H1
2017.

Ends

For further information, please contact:

EnQuest PLC Tel: +44 (0)20 7925 4900
Amjad Bseisu
(Chief Executive)
Jonathan Swinney
(Chief Financial Officer)
Michael Waring
(Head of Communications & Investor Relations)

Tulchan Communications Tel: +44 (0)20 7353 4200
Martin Robinson
Martin Pengelley

This announcement has been determined to contain inside information.

Notes to editors

EnQuest is the largest UK independent producer in the UK North Sea.
EnQuest PLC trades on both the London Stock Exchange and the NASDAQ
OMX Stockholm. Its operated assets include the Thistle/Deveron,
Heather/ Broom, Dons area, the Greater Kittiwake Area and Alma/Galia,
also the Kraken and the Scolty/Crathes developments; EnQuest also has
an interest in the non-operated Alba producing oil field. At the end
of June 2016, EnQuest had interests in 29 UK production licences,
covering 41 blocks or part blocks and was the operator of 26 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.

Forward looking statements: This announcement may contain certain
forward-looking statements with respect to EnQuest's expectation 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 presentation should be construed as a profit forecast. Past
share performance cannot be relied on as a guide to future
performance.

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http://news.cision.com/enquest-plc/r/enquest-s-kraken-fpso-vessel-has-le...
http://mb.cision.com/Main/344/2112147/582646.pdf

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