EnQuest Sticks to Annual Target as Oil Production Falls

North Sea-focused oil producer EnQuest said its production fell 11 percent year on year in the first four months of the year due to the natural decline of its fields but it maintained its annual output target.

 

The oil company also said its flagship Kraken oilfield in the North Sea was on track to begin producing oil before the end of June.

 

EnQuest reported production levels of 37,856 barrels per day (bpd) in the four months to the end of April, below 42,752 bpd achieved in the same period last year, but it stuck to its 2017 target of achieving 45,000-51,000 bpd.


(Reporting by Karolin Schaps. Editing by Jane Merriman)