Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. United Kingdom
  4. London Stock Exchange
  5. EnQuest PLC
  6. News
  7. Summary
    ENQ   GB00B635TG28

ENQUEST PLC

(ENQ)
  Report
Delayed Quote. Delayed London Stock Exchange - 08/03 11:35:11 am
24.15 GBX   -1.43%
07/30ENQUEST : Managers' transactions - Director/PDMR Shareholding
PU
07/27ENQUEST PLC : - Admission of New Shares
AQ
07/26ENQUEST PLC : - Results of Capital Raising and General Meeting
AQ
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

EnQuest : Payments to governments

05/25/2021 | 05:01am EDT

ENQUEST PLC, 25 MAY 2021

Reports on Payments to Governments for the Year ended 31 December 2020

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 2020 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

Basis of preparationThe payments disclosed, which are on a cash basis, are based on 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.All of the 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, with the exception of the Malaysian payments in respect of production entitlements, supplementary payments, royalties, research CESS and education commitment payments which are paid to PETRONAS (Petroliam Nasional Berhad, the National Oil Company of Malaysia).

By licence
Project/entity name Licence Production entitlements Taxes Royalties Licence fees Education commitment payment Research CESS Supple-mentary payments TOTAL
mboe $'000 $'000 $'000 $'000 $'000 $'000 $'000 $'000
Kraken & Kraken North P1077 - - - - 583 - - -  583
Alma & Galia P1765 & P1825 - - - - 815 - - -  815
Heather & Broom P242 & P902 - - - - 424 - - -  424
Greater Kittiwake Area P73 & P238 - - - - 203 - - -  203
Dons (including Ythan & Conrie) P236, P1200 & P2137 - - - - 490 - - -  490
Thistle & Deveron P236 & P475 - - - - 65 - - - 65
Scolty & Crathes P1107 & P1617 - - - - 459 - - -  459
Magnus P193 - - - - 367 - - - 367
Corporate - - (171) - 75 - - - (96)
Total United Kingdom  - - (171) - 3,481 - - - 3,310
PM-8E 748 27,410 - 1,383 - - 402 2,034 31,229
PM409 - - - - - 100 - - 100
Corporate - - 10,537 - - - - - 10,537
Total Malaysia  748 27,410 10,537 1,383 - 100  402  2,034 41,866
Total Group  748 27,410 10,366 1,383 3,481 100 402 2,034 45,176
 

By Government

Project/entity nameLicence Production entitlements Taxes Royalties Licence fees Education commitment payment Research CESS Supple- mentary payments TOTAL
mboe $'000 $'000 $'000 $'000 $'000 $'000 $'000 $'000
HM Revenue and Customs - - (171) - - - - - (171)
Department of Business, Energy and Industrial Strategy - - - - 3,481 - - - 3,481
Total United Kingdom - - (171) - 3,481 - - - 3,310
PETRONAS  748 27,410 - 1,383 - 100  402  2,034 31,329
Malaysian Inland Revenue Board - - 10,537 - - - - - 10,537
Total Malaysia  748 27,410 10,537 1,383 - 100  402  2,034 41,866
Total Group  748 27,410 10,366 1,383 3,481 100 402 2,034 45,176

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.

Taxes
This represents cash tax calculated on the basis of profits including income or capital gains. Income taxes are usually reflected in corporate income tax returns. The cash payment of income taxes occurs in the year in which the tax has arisen or up to one year later. 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 represents cash royalties paid to Governments during the year for the extraction of oil or gas. The terms of the royalties are described within our 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 represents 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).

Education commitment payment
This represents the annual education contribution paid to PETRONAS pursuant to the PM409 PSC.

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
Ian Wood (Head of Communications and Investor Relations)
Jonathan Edwards (Senior Investor Relations and Communications Manager)
Tulchan Communications  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 production and development company with operations in the UK North Sea and Malaysia, the Group's strategic vision is to be the operator of choice for maturing and underdeveloped hydrocarbon assets by focusing on operational excellence, differential capability, value enhancement and financial discipline.

EnQuest PLC trades on both the London Stock Exchange and the NASDAQ OMX Stockholm.

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.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

https://news.cision.com/enquest-plc/r/payments-to-governments,c3352831

https://mb.cision.com/Main/344/3352831/1421902.pdf

(c) 2021 Cision. All rights reserved., source Press Releases - English

All news about ENQUEST PLC
07/30ENQUEST : Managers' transactions - Director/PDMR Shareholding
PU
07/27ENQUEST PLC : - Admission of New Shares
AQ
07/26ENQUEST PLC : - Results of Capital Raising and General Meeting
AQ
07/26ENQUEST : Admission of New Shares
AQ
07/23ENQUEST : Raises $14.7 Million Via Open Share Offering
MT
07/23ENQUEST : Press release - Results of Capital Raising and General Meeting
PU
07/23ENQUEST : Results of Capital Raising and General Meeting
PU
07/20FTSE Rises, Anglo American's Share-Price Outlook is Improving
DJ
07/13ANALYST RECOMMENDATIONS : Allegiant Travel, Electronic Arts, Molecular Partners,..
07/13ENQUEST : Barclays Lifts EnQuest To Overweight From Equal-Weight, Hikes PT
MT
More news
Financials (USD)
Sales 2021 1 128 M - -
Net income 2021 186 M - -
Net Debt 2021 1 147 M - -
P/E ratio 2021 1,77x
Yield 2021 -
Capitalization 444 M 617 M -
EV / Sales 2021 1,41x
EV / Sales 2022 1,30x
Nbr of Employees 885
Free-Float 78,6%
Chart ENQUEST PLC
Duration : Period :
EnQuest PLC Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends ENQUEST PLC
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 4
Last Close Price 0,24 $
Average target price 0,54 $
Spread / Average Target 124%
EPS Revisions
Managers and Directors
Amjad Bseisu Chief Executive Officer & Executive Director
Jonathan Swinney Chief Financial Officer & Executive Director
Martin Joseph Houston Non-Executive Chairman
Philip Malcolm Holland Independent Non-Executive Director
Carl D. Hughes Independent Non-Executive Director
Sector and Competitors
1st jan.Capi. (M$)
ENQUEST PLC116.81%626
CONOCOPHILLIPS38.48%74 731
CNOOC LIMITED8.64%44 805
EOG RESOURCES, INC.43.61%41 798
CANADIAN NATURAL RESOURCES LIMITED34.59%39 097
PIONEER NATURAL RESOURCES COMPANY24.99%34 727