EnQuest revises 2017 production forecast

8/23/2017

LONDON -- Operator EnQuest has revised its 2017 production forecast as the Kraken FPSO takes longer than expected to commission. 

Production for the first half of 2017 was 37,015 boed. With prolonged commissioning leading to lower than expected operational efficiency from the Kraken FPSO vessel to date, production volumes have been lower than forecast and EnQuest’s overall average daily production for the full year 2017 is now anticipated to be as per the first half 2017 production rate, plus or minus 10%.

This reduction in EnQuest’s short-term 2017 production guidance, is consistent with EnQuest’s objective of bringing Kraken onstream in a phased manner in line with good reservoir management practices aimed at maximizing long term productivity and value. The company does not expect the current operational issues in the Kraken ramp-up to continue beyond 2017.

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