EnQuest is to delay publication of its full year financial results due to the coronavirus.
The North Sea operator was due to publish its 2019 figures tomorrow but has decided to instead observe a two-week moratorium following advice from the Financial Conduct Authority (FCA).
Earlier this week, the watchdog urged all companies to delay their results in light of the “unprecedented events of the last couple of weeks” due to the outbreak of covid-19.
EnQuest said it “will announce the date for the publication of its 2019 results in due course”.
The UK and Malaysia-focussed firm has a host of operated assets in the North Sea and interests in 17 licences.
Earlier this month, EnQuest announced it would not be seeking to restart production at its Thistle or Heather fields, currently out of action respectively due to a structural fault and a fire, because of the impact of the coronavirus on the price of oil.
For 2020, the group is targeting a 30% reduction in operating costs to £325 million, with unit costs of $15 per barrel, driven mainly by savings at Heather and Thistle.
Capital expenditure is also expected to be reduced by £70m to £130m.
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