EnQuest revives production from mature UK fields

Offshore staff

LONDONEnQuest has updated its UK North Sea production and exploration programs.

In the north area of the sector, oil production through the Thistle platform exceeds expectations following improvements to water injection and power reliability, with a newly installed turbine due to star full-time operation early next year.

Last month, a third electric submersible pump was brought online in the A59/45 well, a side track of well A46/45 to Area-6.

At the Don complex, a side track of Don Southwest Well S1 to the Horst target (now known as well S11) came onstream at 15,000 boe/d. The S10 well should start up shortly. The updip side track of West Don Well W2 (now designated Well W5) came online early last month at an initial rate of 2,000 boe/d.

In the same region, the Heather platform rig reactivation is progressing and is on track for full service in early 2013, following the startup of drilling operations around year-end.

As for the Crawford/Porter redevelopment in the UK central North Sea, the company and its partners have concluded that a tieback to Marathon’s East Brae platform is not the best way forward. They are considering other development options.

Currently EnQuest is drilling the Kildrummy prospect, and is working on plans for an appraisal well on Cairngorm in 2013.

Elsewhere, the company has applied to pre-qualify as an operator in the Norwegian North Sea, and has been authorized to submit an application for Norway’s current APA offshore licensing round.

In Malaysia, EnQuest has acquired Nio Petroleum (Sabah) from Nio Petroleum under a cash deal that could exceed $23 million, based on 2P reserves associated with an approved field development plan for blocks SB307 and SB308 offshore Sabah, Malaysia.

Nio’s chief asset is a 42.5% interest in the Sabah blocks, with one existing near field appraisal opportunity at the Bambazon oil discovery and five prospects. Other partners are Lundin Petroleum and Petronas Carigali.

The acquisition provides EnQuest with an office base in Kuala Lumpur and a management team with wide experience in Southeast Asia, including the CEO Richard Hall.

11/09/2012

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