EnQuest slashes production expectations over ‘challenging’ Magnus, Kraken and Malaysia woes

EnQuest slashes production expectations over ‘challenging’ Magnus, Kraken and Malaysia woes

EnQuest has again slashed its production guidance for the year, saying group production has been “challenging” due to the performance of the Magnus and Kraken assets.

Production is now expected to be around 45,000 barrels of oil equivalent per year, down from the lower end of expectations announced in September of 46,000 and 52,000 boepd.

EnQuest said the Magnus field has been impacted by recent compressor system outages, while an unplanned shutdown has hit the Kraken field.

The firm also pointed to issues with a supplier driven delay in a pipeline replacement in Malaysia.

More follows.





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