EnQuest has completed the acquisition of a further 15% interest in blocks 9/2b and 9/2c including the Kraken oil discovery (‘Kraken’) from First Oil.
EnQuest now operates Kraken with 60% stake while First Oil owns 15%. The remaining 25% is held by Nautical Petroleum.
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. It is being progressed to development following successful appraisal and well test results.
In April this year, EnQuest’s Chief Executive, Amjad Bseisu described Kraken as “one of the most exciting development projects in the UK North Sea.”
Offshore Energy Today Staff, September 14, 2012