EnQuest on Track for Kraken Go-Ahead

UK independent EnQuest reported Wednesday that it is on course to submit a field development plan for its Kraken development in the UK North Sea during the current quarter. The firm said it expected to sanction the development of Kraken later in 2013.

"EnQuest's growth and execution remain on course.  We are on track to submit the field development plan (FDP) for Kraken by mid-year and to sanction the project later in 2013.  The well results in north Kraken are in line with expectations and give further confidence in the field development," EnQuest Chief Executive Amjad Bseisu commented in a company update released Wednesday morning.

Bseisu also noted that EnQuest completed its acquisition of eight percent of the Alba field, which he said has similar characteristics to Kraken, in the first quarter.  

"Alba adds four non-operated wells to the twelve wells that EnQuest had originally planned for 2013," he said.

Meanwhile, the firm's Alma/Galia project remains on track for first production during the fourth quarter of 2013 and dry dock work on the EnQuest Producer vessel is now complete.

EnQuest said that its average production during the first four months of the year amounted to 20,494 barrels of oil equivalent per day, compared with 20,976 boepd over the same period in 2012.

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