In its first-half 2025 report, EnQuest stated it will remain focused on delivering its base operations and securing transformational transactional growth within its North Sea business, enhanced by its ‘advantaged UK tax position.’
EnQuest plans to import gas from the Bressay Field to the Kraken Field FPSO in the UK’s East Shetland Basin via a subsea tieback, according to the company’s first-half 2025 results report.
This would replace much of the diesel currently needed to power Kraken operations, the company said, and would also reduce the FPSO’s emissions and operating costs.
In addition, EnQuest’s asset team is assessing flare gas recovery for Kraken to provide a further source of gas for powering the FPSO.
At the Magnus Field in the same region, oil production in mid-July rose to 18,882 bbl/d, representing the highest quarterly rate since early 2020. It followed a successful campaign of infill drilling, well interventions and well optimization work.
Implementation of a fifth water injector has increased Magnus’ water injection capacity by 20%, with the field’s average water cut now back to 2017 levels of 85%, just before EnQuest acquired Magnus from bp.
The priority going forward is to continue to optimize production through water injection and sweep efficiency measures, with the next infill drilling program (six wells) planned in 2026.
EnQuest’s Thistle Field decommissioning team remains on track to complete disembarkation from the platform in first-quarter 2026, following P&A of a total of 41 wells. Preparations have now started for the platform’s removal.
Last month, the company awarded Well-Safe a multi-year contract that includes use of the semisub Well-Safe Defender rig for a minimum of 230 days’ P&A duties during 2026-27, and options to add further activities in the North Sea between 2028 and 2034.
Initially the Defender will complete P&A of Magnus subsea wells. The EnQuest team aims to adopt a portfolio approach across its fields, with P&A activity scheduling governed largely by well integrity.
The company has been steadily expanding operations offshore Southeast Asia via field acquisitions and license awards. In July, EnQuest acquired operatorship from Harbour Energy of the producing Chim Sáo and Dua fields in Block 12W offshore Vietnam.
It is now reviewing additional prospectivity on the block, applying its experience in late-life and FPSO asset management expertise to devise solutions for three gas discoveries and various other targets. The company will look to extending the production sharing contract beyond its current expiry date of November 2030.
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