ENQUEST PLC,
Reports on Payments to Governments for the Year ended 31 December 2019
This report provides information in accordance with DTR 4.3A in respect of payments made by the Company to Governments for the year ended
This report is available to download from: https://www.enquest.com/corporate-responsibility/business-conduct
Basis of preparation
The 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
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 (
By licence
Project/entity Licence Production Taxes Royalties Licence Education Research Supple TOTAL
name entitlements fees commitment CESS -mentary
payment payments
mboe $'000 $'000 $'000 $'000 $'000 $'000 $'000 $'000
Kraken & Kraken P1077 - - - - 574 - - - 574
North
Alma & Galia P1765 & - - - - 607 - - - 607
P1825
Heather & Broom P242 & - - - - 422 - - - 422
P902
Greater P73 & - - - - 202 - - - 202
Kittiwake Area P238
Dons (including P236, - - - - 518 - - - 518
Ythan & Conrie) P1200 &
P2137
Thistle & P236 & - - - - 108 - - - 108
Deveron P475
Scolty & P1107 & - - - - 434 - - - 434
Crathes P1617
Magnus P193 - - - - 367 - - - 367
Corporate - - 10,624 - 112 - - - 10,736
Total United - - 10,624 - 3,344 - - - 13,968
Kingdom
Corporate - - (2,285) - - - - - (2,285)
Total
PM-8E 1,029 62,922 - 1,905 - - 681 21,069 86,577
Tanjong Baram - - - - - 100 - - 100
Corporate - - 17,814 - - - - - 17,814
Total
By Government
Project/entity Production Taxes Royalties Licence Education Research Supple- TOTAL
nameLicence entitlements fees commitment CESS mentary
payment payments
mboe $'000 $'000 $'000 $'000 $'000 $'000 $'000 $'000
HM Revenue - - 10,624 - - - - - 10,624
and Customs
Department of - - - - 3,344 - - - 3,344
Business,
Energy and
Industrial
Strategy
Total United - - 10,624 - 3,344 - - - 13,968
Kingdom
Skatteetaten - - (2,285) - - - - - (2,285)
Total
PETRONAS 1,029 62,922 - 1,905 - 100 681 21,069 86,677
Malaysian - - 17,814 - - - - - 17,814
Inland
Revenue
Board
Total 1,029 62,922 17,814 1,905 - 100 681 21,069 104,491
Production entitlements expressed in barrels
This includes non-cash royalties and state non-participating interest paid in barrels of oil or gas out of
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 Tanjong Baram Risk Service Contract.
Research CESS
Research CESS payments are contractual amounts due under the PM-8E PSC, and are based on
Supplementary payments
Supplementary payments are required under the PM-8E PSC and are based on
Ends
For further information please contact:
EnQuest PLC Tel: +44 (0)20 7925 4900
Tulchan Communications Tel: +44 (0)20 7353 4200
Martin Robinson
Notes to editors
Forward-looking statements: This announcement may contain certain forward-looking statements with respect to
This information is provided by RNS, the news service of the
https://news.cision.com/enquest-plc/r/payments-to-governments,c3144466
https://mb.cision.com/Main/344/3144466/1271523.pdf
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