EnQuest sanctions the development of Alma and Galia production guidance shows growth potential of over 20% p.a.

Alma/Galia: 29 MMboe of net 2P reserves EnQuest PLC (‘EnQuest’) is pleased to announce that it has sanctioned the development of the Alma and Galia fields, subject to anticipated regulatory approvals. This $850 million project will add a fourth hub to EnQuest’s existing operating base, will increase EnQuest’s net 2P oil reserves by 29 MMboe and is expected to increase EnQuest’s production levels to over 40,000 Boepd in 2014. This project will be a central feature in presentations which EnQuest is giving to investors today.