Enquest Plc Ord (ENQUF) Q4 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, ladies and gentlemen, and welcome to our 2024 Annual Results. Thank you for being with us today. My name is Amjad Besseyso. I'm the Chief Executive Officer of Enquest. Joining me today are Chief Financial Officer Jonathan Kopas and Steve Boyer, our North Sea Managing Director. Steve and Jonathan continue to provide great leadership as we drive Enquest forward in our second phase, despite a challenging fiscal environment in the UK. We remain very much focused on delivering our new growth of our journey. As I'm sure you're all aware, I wanted to advise all attendees with regard to discussions on the possible combination between Enquest and Serica. We are bound by strict takeover panel rules. Accordingly, I'd refer you to the RNS announcement released by Enquest and Serica on Friday, the 7th of March, and confirm that we won't be able to answer any questions relating to this possible combination today. Let's start by taking a look at our strong fundamentals that underpin our business. Our strategy is underpinned by our capability as a top quartile operator, both in the UK now and Southeast Asia. This is demonstratable across all our life cycles of our assets. I'm very proud to talk about our production performance in 2024, where our operated assets were 90% production efficiency, and 2025 is off to a similarly impressive start. And that's great considering the vintage of our assets, which is long life. With 96% of our 2P reserves under our operatorship, we maintain control over asset management, a factor which has been a key to our operational excellence over the years. During 2024, we celebrated 10 successful years of operations in Malaysia by being nominated the operator of the year in the Malaysia Upstream Awards. I was very proud to attend those celebr...