The Group’s production operations include its Magnus, Kraken, Golden Eagle, Greater Kittiwake Area, Scolty/Crathes and Alba assets. These assets are characterised by their high production and operating efficiency combined with a focus on reservoir management and resource development. Kraken and Magnus contain material reserves and resources, while the Bentley and Bressay projects each hold more than 100 MMbbls of net 2C resources providing future production opportunities.
EnQuest’s acquisition of its 100% interest in Magnus, completed in 2018, was welcomed by all stakeholders as having the “right assets, in the right hands”, reflecting the Group’s production improvement and life-extension successes at its other assets. The acquisition increased production and cash flow through the addition of substantial low-cost 2P reserves. Magnus has significant reserves and resource potential that requires further evaluation to identify future drilling and tie-back prospects.
First oil from this heavy-oil producing asset was delivered in June 2017, with the field development plan completed around the end of the first quarter of 2019. In 2020, a producer and injector pair drilled into the western area was completed and bought onstream. Kraken is expected to have a long field life of over 20 years and continues to offer infill opportunities and near-field opportunities through the evaluation and development of the Pembroke, Antrim, and Maureen sands discoveries and prospects in the western area.
EnQuest’s purchase of a 26.69% non-operated equity interest in the Golden Eagle Area Development, which includes the Golden Eagle, Solitaire and Peregrine fields, has added material production, reserves and resources and cash generating capability. Golden Eagle was brought onstream in late 2014 and the partnership successfully completed a 4-well infill drilling campaign in 2021. There remains significant development potential, including further sub-sea and platform infill drilling, with an anticipated field life extending into the early 2030's.
The GKA area comprises five offshore oil fields: Kittiwake, Mallard, Gadwall, Goosander and Grouse. Through successful rejuvenation of the well stock, improving water injection capability and a focus on debottlenecking the production system, significant increases in volume and uptime have been achieved.
The Scolty/Crathes development consists of a single horizontal well drilled in to each of the Scolty and Crathes fields. The fields are tied back to the Kittiwake platform and have greatly extended the useful life of this production hub.
EnQuest has an 8% non-operated equity interest in the Alba field.