Interview suggests North Sea was the high-growth area for EnQuest, but could be replaced by Asia in wake of the UK windfall tax
Production from Cnooc’s Golden Eagle is “lower than expected”, the result of “higher than anticipated rates of decline”.
North Sea operator EnQuest is searching for a new chairman after incumbent Martin Houston announced his intent to step down.
EnQuest has reported solid production performance for the year to date, as it continues with workover programmes in the North Sea and offshore Malaysia.
EnQuest (LON: ENQ) cut into its debt and moved back into the black in its 2021 results, despite a series of troubles knocking back production levels.
EnQuest (LON: ENQ) plans to carry out its largest sanctioned programme of work since 2014 in the coming year, with a range of drilling and decom in the pipeline.
EnQuest took a hit to its production in the first half of 2021 after a series of unplanned issues at Magnus, as well as a drop in output from its flagship Kraken field.
Equinor is selling a 40% operated stake in the huge Bressay field east of Shetland to EnQuest in a deal worth £13m.
EnQuest CEO Amjad Bseisu saw his take-home pay increase by more than a third in 2018 to £1,352,000.
The boss of North Sea oil producer EnQuest said yesterday he believed the region could yield further discoveries to extend its lifespan.
EnQuest chief executive Amjad Bseisu said yesterday he expected North Sea mergers and acquisitions (M&A) activity to increase in 2017.
Work on EnQuest’s new North Sea headquarters in Aberdeen is proceeding as planned despite the firm’s plunging share price and oil and gas industry woes. It is understood that there is no threat to the development in the heart of the Granite City, where EnQuest’s new north-east home – Annan House – is taking shape. It is part of a bigger project, known as The Grande, which is helping to regenerate a long-neglected part of Aberdeen.