North Sea explorer EnQuest today said it was confident of growing production by a third next year as it unveiled a jump in second-half output.
The firm said production averaged 35,022 barrels a day to the end of November, up 26 per cent on the same period last year. Between July and November, output jumped 39 per cent year-on-year to 41,360 barrels, and on 18 November, EnQuest delivered its first individual day’s production total of more than 50,000 barrels.
Chief executive 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.
“At the mid-point of our guidance ranges for 2015 and 2016, we are now forecasting a further 33 per cent growth in production next year, before Kraken and Scolty/Crathes come onstream.”
The huge Kraken project, east of Shetland, is scheduled to produce first oil in the first half of 2017, as is the Scolty/Crathes development, about 100 miles east of Aberdeen.
• Aberdeen-based energy services firm Wood Group said it has secured a multi-year engineering contract with ConocoPhillips, covering the Darwin liquefied natural gas plant in Australia and the Bayu-Undan gas field south west of Timor-Leste.