Reference is made to the announcement made by Barakah Offshore Petroleum Berhad ("the Company") on 10 September 2021 ("Announcement") in relation to the Adjudication Claim that had been served against Enquest Petroleum Production Malaysia Ltd (“ENQUEST”) by its wholly-owned subsidiary, PBJV Group Sdn Bhd (“PBJV”) on 6 September 2021 through ENQUEST’s appointed solicitors for the total sum of RM73,570,587.19 (“Outstanding Sum”). Unless stated otherwise, definitions used in this announcement shall carry the same meanings as defined in the Announcement.

The Company wishes to inform that in relation to the Announcement, PBJV have, on 3 January 2022, been notified by its solicitors that the Adjudicator has determined and delivered his Decision in favour of PBJV on 29 December 2021, breakdown of which are as follows:-

(a)     ENQUEST (“Respondent”) shall pay to PBJV (“Claimant”) the sum of RM71,567,429.55 (“Adjudicated Sum”); and

(b)    The adjudicated sum shall be paid on or before 28 January 2022 (“the Due Date”);

(c)     Interest at a rate of 5% per annum on the Adjudicated Sum calculated from the Due Date until full payment; and

(d)    Costs of the adjudication proceedings of RM154,995.69.

The adjudication Decision is subject to further legal proceedings. Therefore, the Company will make the appropriate announcements to Bursa Malaysia as and when there are material developments in relation thereof.

This announcement is dated 3 January 2022.