EnQuest eyes higher production on drilling success

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Oil producer EnQuest today said it was targeting a rise in output this year amid continued investment in its assets.

The group, which last year gave the go-ahead for a £4 billion investment in the giant Kraken field east of Shetland, delivered average production of 24,222 barrels a day in the year to December, up 6 per cent on a year earlier.

Chief executive Amjad Bseisu said the Aberdeen-based firm had benefited from a successful drilling campaign and expects to see output rise to between 25,000 and 30,000 barrels a day for 2014.

He added: “Companies like EnQuest are the future of the UK North Sea. Having strong and technically focused operations gives us the ability to maximise hydrocarbon recovery.”