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First oil from the Kraken development delivered

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Oilfield Technology,

EnQuest has confirmed that first oil from the Kraken development was delivered on 23 June. 13 wells have been drilled and completed to date, comprising 7 producers and 6 injectors. During the initial ramp-up period, these wells are being brought online in a phased manner to maximise long-term productivity and value.

CEO of EnQuest, Amjad Bseisu, said: “EnQuest is delighted to confirm that first oil has been achieved on the Kraken development, delivered on schedule and under budget. Drill centres 1 and 2 are fully complete and work continues on drill centre 3. As a result, further production capacity will come online into 2018 as these further wells are put onstream.

“Kraken is a transformational project that was made possible by EnQuest’s differential capabilities; the right mix of integrated technical capabilities, high levels of efficiency and cost discipline. With production from Kraken, EnQuest is moving from a period of heavy capital investment, to a focus on cash generation and deleveraging the balance sheet.

“A further update and additional analysis will be provided in EnQuest’s 2H17 results.”

EnQuest’s Head of Major Projects, Richard Hall, said: “The achievement of producing first oil from Kraken on schedule and considerably under budget is a great testament to the capabilities of EnQuest. […] Our approach of rigorous planning, simplification of specifications and clarity in execution methodology has enabled us successfully to deliver this highly complex project.”

UK Business and Energy Secretary Greg Clark said: “This is a landmark project for EnQuest and the UK oil and gas sector as one of the largest new oil fields to come onstream in the North Sea in a decade. This has been made possible through significant UK government support to encourage investments of this type in the North Sea, supporting thousands of highly skilled jobs.

UK Oil & Gas Authority Chief Executive, Dr Andy Samuel said: “As one of the most significant oil field projects in the UK Continental Shelf, successful production from Kraken is positive news for the whole basin. It has the potential to open up additional heavy oil opportunities in the Northern North Sea, with other developments in the pipeline. It’s particularly pleasing to see a project delivered under budget, having clearly benefitted from a strong partnership between operator and key service providers.”

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