EnQuest Plc expects higher production this year, helped by its flagship Kraken oil field and its acquisition of a 25% stake in BP’s Magnus oil field, the North Sea-focused oil producer said Feb. 19.
Average production is expected to grow by between 33% and 55% to about 50,000 to 58,000 barrels of oil equivalent per day (boe/d) this year, the company said. Production averaged 37,405 boe/d in 2017.
Gross production from Kraken averaged 35,000 barrels of oil per day (bbl/d) in January and delivered the targeted 50,000 bbl/d, EnQuest said.
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