Kraken delays apply brake to Enquest in North Sea

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Enquest has had to contend with technical problems in the always challenging waters of the North Sea Enquest has had to contend with technical problems in the always challenging waters of the North SeaGetty Images

Technical problems and drilling delays at Enquest’s principal North Sea site are likely to result in the company’s oil and gas production growing by less than expected next year.

Enquest said yesterday that the Kraken field, which started up in June 2017, continued to be affected by “a small number of system outages and equipment repairs”, while a drilling rig for a new well at the project also had been delayed.

The company said that it was making “conservative assumptions” and that it expected to produce between 30,000 and 35,000 barrels per day from Kraken in 2019, less than analysts had expected.

Despite the setback, Enquest said that it expected total production to grow to between 63,000 and 70,000 barrels of oil per day in…

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  • Energy
  • Banking
  • Asia