EnQuest raised oil production from the Magnus Field in the northern North Sea last month to 16,800 bbl/d, the highest rate since 2022.
This was a result of reservoir management and good infill drilling results, the company said in a recent update.
Later in April, however, production had to be shut in briefly following a pipeline system outage, but it has since been restored after remedial action at the third-party-operated Ninian Central platform.
The third infill well in this year’s drilling program will go onstream in June.
EnQuest CEO Amjad Bseisu was less upbeat regarding UK North Sea investment situation, stating, “The recent stepdown in commodity prices has further amplified calls for the UK government to remove the Energy Profits Levy and return the North Sea to a position of global competitiveness.
"The status quo, which sees the UK as the only country levying a windfall tax on home-grown energy producers, where no windfall profits exist, is resulting in irreversible damage to this strategic national industry and is driving job losses across the sector. We remain focused on optimizing our cost base to drive further efficiency, commensurate with a low commodity price environment.”
