Enquest Plc Ord (ENQUF) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, ladies and gentlemen, and welcome to Enquest PLC's results for the first half of 2025. Throughout this webcast, you will have the opportunity to submit questions at any time, and we will look to answer as many of these as possible during the Q&A session at the end of the presentation. Without further ado, I will hand you over to our Chief Executive Officer, Amjad Bezezu. Thank you very much, Craig, and good morning, ladies and gentlemen. Welcome to our 2025 year half-year results presentations. Thank you very much for the time joining us today. My name is Amjad Biseso. I'm the CEO of Inquest. Joining me today is our Chief Financial Officer, Jonathan Kopis, and Steve Boyer, our UK North Sea Managing Director. Craig Baxter is also joining us, Head of Investor Relations and Corporate Affairs. Steve and Jonathan lead the high-performing teams across our business, and our operational performance has remained very strong in the first half of the year, as you will see. Let's start with the backdrop of the UK. The UK North Sea remains one of the most challenging environments in oil and gas, as evolving fiscal and regulatory pressure continue to undermine global competitiveness. With the sector losing 1,000 jobs every month, according to our industry OEUK outfit, it's crucial that the government urgently reforms the energy profits levy, which now delivers a fraction of the originally projected revenues. Only a fairer, more predictable tax environment can help companies like ours to invest and secure a UK energy supply that protects jobs in this critical energy transition environment and allow success of the business. The opportunity is there now and today to enact positive change in the upcoming autumn budget. We are poised to play a leading part in enhancing th...