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2017-02-17

EnQuest PLC: Kraken FPSO in the field and hooked up

ENQUEST PLC, 17 February 2017
Development update: Kraken FPSO in the field and hooked up

The Kraken development

The Kraken Floating Production Storage and Offloading ('FPSO') vessel
arrived at the field on Monday 13 February, anticipating good weather
conditions. The hook up of the Submerged Turret Production ('STP')
buoy mooring system, to the FPSO was completed on 15th February and a
full rotation test performed so that the vessel is now on station and
securely moored. Commissioning work will continue on the topsides.
Reconstruction of the turret area pipework and connection of the
risers and umbilicals to the swivel stack is being undertaken
followed by commissioning of the subsea infrastructure. Delivery of
first oil in Q2 2017 is on track.

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

Notes to editors
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 and Alma/Galia, also the Kraken development; 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 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 development.

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/kraken-fpso-in-the-field-and-hooked...
http://mb.cision.com/Main/344/2191682/630841.pdf

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