LONDON - EnQuest PLC (LSE:ENQ) disclosed $172.5 million in payments to governments for the year ended December 31, 2025, according to a press release statement published today.
The payments were distributed across four countries where the oil and gas company operates. The United Kingdom received $106.7 million, comprising $102.8 million in taxes paid to HM Revenue and Customs and $3.9 million in license fees to regulatory bodies including the North Sea Transition Authority.
Malaysia accounted for $52.4 million in total payments, with $39.9 million in production entitlements and $7.2 million in taxes. The company made payments to PETRONAS, Malaysia’s national oil company, and the Malaysian Inland Revenue Board.
Vietnam received $13.2 million, including $3.9 million in production entitlements, $5.8 million in taxes, and $3.1 million in royalties. Payments were made to PetroVietnam and the HCM Tax Department.
Indonesia received $240,000 in bonus payments related to the Gaea and Gaea II production sharing contracts, paid to the Directorate General of Oil and Gas.
The report was prepared in accordance with DTR 4.3A and the Reports on Payments to Governments Regulations 2014. The company disclosed payments on a cash basis, with individual payments or related series below £86,000 aggregated at corporate level.
Production entitlements totaled 666,000 barrels of oil equivalent across the company’s operations. Taxes represented the largest payment category at $115.9 million, followed by production entitlements at $43.8 million.
The company operates multiple projects including Kraken, Magnus, and Bentley in the UK, PM-8E in Malaysia, and Block 12W in Vietnam.
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