Kraken represents one of the cornerstones of EnQuest’s long term production portfolio.
One of the largest current development projects in the UK North Sea, Kraken has an anticipated production life of up to 25 years and first oil is targeted in 2017.
Kraken has exemplified the capabilities of our people to identify and evaluate an opportunity, then move it forward swiftly using an integrated team model.
Ownership: EnQuest 70.5%, Cairn Energy Plc 29.5%
- Kraken is a large heavy oil accumulation in the UK North Sea, located in the East Shetland basin, to the west of the North Viking Graben; approximately 125 km east of the Shetland Islands
- First oil production is expected in 2017
The information here was correct as at the time of EnQuest’s December 2015 Operations Update, as further updated by the February 2016 announcement of EnQuest’s acquisition of a further 10.5% interest in Kraken.
Updated as per EnQuest's Annual Report, dated 16 March 2016.