Exploration and production firm EnQuest managed to reduce its debt pile to its lowest level since 2014 and narrow its losses in 2020 despite the oil price slump.
EnQuest said today that work to halt production from the Dons fields in the UK North Sea had begun.
The North Sea boss of EnQuest has said the firm is “very interested” in a joint-operator decommissioning approach, but “someone needs to take the lead”.
EnQuest bosses said today that the recent shrinking of the firm’s UK North Sea footprint was just part of the “natural cycle”.
Xergy has scored with the latest signing to its leadership team, former Dons striker Scott Michie.
Oil firm EnQuest will shrink further after deciding to call time on a group of fields in the northern North Sea.