EnQuest To Develop Two North Sea Oil Fields in 2016
Posted on: 11/12/2015

UK-based oil firm EnQuest has been approved by the UK Oil & Gas Authority to develop two North Sea oil fields in 2016, with the first oil expected by 2017. The firm has already increased its offshore oil and gas production by at least 33%, and the addition of the two new fields, Scolty and Crathes, ties in with their existing infrastructure at low upfront costs.

The firm, based in Aberdeen, has already increased its North Sea production by 40% over last year, and currently produces 41,000 barrels a day. EnQuest’s 2016 target will put its daily oil production at around 48,000. The development plan consists of single horizontal wells to be drilled in each of the fields, which will be tied back to the Kittiwake platform in the Greater Kittiwake Area (GKA). The production fluids will then be processed and exported to shore via the Forties Pipeline System.

To finance the two field developments, EnQuest have also confirmed that they’re looking to sell off stakes in a number of its developing and producing North Sea assets, including the Heather/Broom field, and the Kraken development. Kraken is currently on schedule to see first oil in the beginning of 2017.

Speaking on the announcements, Amjad Bseisu said: “EnQuest is addressing its priorities in this low oil price environment: delivering on production and execution targets, streamlining operations and strengthening the balance sheet.”

Production from the Scolty/Crathes fields is expected to continue until 2025, which will also extend the life of the GKA hub to 2025.

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