24 March 2022
EnQuest PLC ('EnQuest') today announces that Jonathan Swinney has notified the Board of his intention to step down from the Board as Chief Financial Officer ('CFO') and Executive Director at a date to be determined in due course, and take up the position of chief financial officer at Tullow Oil plc. Salman Malik, currently Managing Director - Corporate Development, Infrastructure and New Energy and a member of the Group's Executive Committee, will succeed Jonathan as CFO and as an Executive Director upon Jonathan's departure. Salman has been with EnQuest since 2013 and has extensive experience in capital markets and the oil and gas industry.
Amjad Bseisu, Chief Executive:
"As the founding CFO of EnQuest, Jonathan has been a key driver of our success and development since our initial public offering in April 2010. He has been instrumental in our asset acquisitions and major capital market transactions. We have worked closely for more than a decade together and I have valued Jonathan's support, guidance and commitment to the Company. Jonathan will remain with us for some months to ensure a successful handover. I am sorry to see Jonathan leave EnQuest. He has made a significant contribution over many years and I wish him all the best in his future opportunity.
"Salman has been a member of our Executive Committee for a number of years and has a wealth of industry and financial experience. He led some of our most recent business development activities, particularly the Magnus and Golden Eagle transactions, which have added material value to the Group. I look forward to continuing to work alongside Salman and am excited about driving further value creation for all our stakeholders."
Salman Malik's Biography:
Salman joined EnQuest in 2013 and is a CFA charter holder. Prior to his time with EnQuest Salman had extensive experience in investment management, investment banking and private equity in Canada and the Middle East. Whilst at EnQuest Salman has been responsible for the Group's global strategy and business development.
This announcement is made pursuant to paragraph 9.6.11 of the Listing Rules of the UK Listing Authority ('UKLA').
For further information, please contact:
EnQuest PLC Tel: +44 (0)20 7925 4900
Amjad Bseisu (Chief Executive)
Jonathan Swinney (Chief
Ian Wood (Head of Investor
Relations, Communications &
Craig Baxter (Senior Investor
Relations & Communications
Tulchan Communications Tel: +44 (0)20 7353 4200
Martin RobinsonMartin Pengelley
Notes to editors
Jonathan Swinney will be treated in accordance with EnQuest's approved remuneration policy and the terms of his service contract. Further details will be disclosed on EnQuest's website in compliance with Section 430(2B) of the Companies Act 2006 and in the Directors' Remuneration Report within its Annual Report and Accounts for the year ended 31 December 2022.
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.
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