February 19, 2018 / 7:47 AM / 6 months ago

UK's EnQuest expects higher production this year

Feb 19 (Reuters) - EnQuest Plc expects higher production this year, helped by its flagship Kraken oilfield and its acquisition of a 25 percent stake in BP’s Magnus oil field, the North Sea-focused oil producer said on Monday.

Average production is expected to grow by between 33 percent and 55 percent to about 50,000 to 58,000 barrels of oil equivalent per day (boepd) this year, the company said. Production averaged 37,405 boepd in 2017.

Gross production from Kraken averaged 35,000 barrels of oil per day (bopd) in January and delivered the targeted 50,000 bopd, EnQuest it said. (Reporting by Arathy S Nair in Bengaluru; Editing by Gopakumar Warrier)

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