EnQuest affirms 2018 production target

  • Business & Finance

London-listed oil company EnQuest has reaffirmed its 2018 production guidance, following  “in line with expectations” first four months of the year.

EnQuest’s production averaged around 56,077 Boepd in the four months to end April 2018, an increase of 48.1% on the same period in 2017, boosted by the Kraken field in the East Shetland basin, west of the North Viking Graben, which started producing on June 23, 2017.

As for the Kraken, average gross production in the first four months of the year, which includes the impact of the March maintenance shutdown, was in line with expectations. Excluding the impact of the shutdown, gross production averaged over 36,000 Bopd.

The Kraken had to be shut down in early March due to extremely cold weather, however, EnQuest used the opportunity to carry out much of the previously planned April shutdown maintenance workscope, meaning the planned shutdown was no longer required.

Since first production, almost 7 million barrels of oil have been produced and 13 cargoes offloaded from the FPSO, with 9 of these cargoes offloaded in 2018. 

EnQuest said the subsea infrastructure for drilling center DC4 at Kraken was scheduled to be installed in the third quarter, with the drilling program expected to start in the fourth quarter, when the Transocean Leader drilling rig relocates from the Alma/Galia field. First production from DC4 is expected in early 2019.

The company, which apart from the North Sea fields holds interest offshore Malaysia, on Thursday affirmed its full year 2018 guidance of 50,000 Boepd to 58,000 Boepd.

Offshore Energy Today Staff

Related news

List of related news articles