EnQuest says its Kraken subject is on observe to achieve 50,000 bo/d gross within the first half of 2018 after reaching month on month manufacturing progress since approaching stream June this 12 months.
Early this month, Kraken reached common manufacturing charges of round 23,000 bo/d gross, the corporate reported at this time (30 November). The subject’s second manufacturing processing prepare was introduced on stream this month as properly, reaching manufacturing of greater than 40,000 bo/d.
The closing drill middle (DC) 2 manufacturing properly additionally has come on-line. The firm stories seeing wonderful drilling efficiency for its DC3 wells, that are nearing completion forward of schedule; the method of bringing these wells onstream is underway. EnQuest additionally says it’s planning to drill DC4 in 2018.
The firm accomplished second and third cargo offloads from Kraken in October and November. The newest cargo bought was contracted for a reduction to Brent of lower than $5/bbl, EnQuest says in a 30 November operational replace.
In August, the corporate reported that manufacturing from the UK North Sea heavy oil subject was taking longer to ramp up than anticipated resulting from commissioning of the floating manufacturing storage and offloading vessel’s (FPSO) topsides gear falling delayed. Despite this delay, EnQuest CEO Amjad Bseisu stated the corporate was happy with Kraken’s reservoir efficiency and movement charges achieved on particular person wells.
The subject, positioned about 125km east of the Shetland Islands off Scotland, began manufacturing on 23 June. The $2.5 billion Kraken improvement can have 25 wells, together with 14 manufacturing wells and 11 injection wells, that may produce by way of Bumi Armada’s Armada Kraken FPSO. Wood Mackenzie reported in June that it anticipated Kraken manufacturing to peak at practically 50,000 b/d in 2019, offering four.5% of total UK liquids manufacturing for that 12 months.
The 4 wells from DC1 and three wells from DC2 have produced at preliminary gross charges above expectations and with stabilized charges that affirm EnQuest’s improvement plan. All DC1 wells have examined at a most fee of about 24,000 boe/d, and stabilized properly charges at round 15,000 bo/d. One DC2 properly has examined at a fee of over 10,000 bo/d, “demonstrating wonderful reservoir properties and completion effectivity,” EnQuest says.
The firm says it has been to cut back Kraken’s full cycle gross capital expenditures by 25% from its authentic sanctioned value of $three.2 billion, because of the success of the DC3 drilling program and decrease market charges for the remaining subsea marketing campaign.
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EnQuest holds 70.5% curiosity in Kraken; Cairn Energy is accomplice with 29.5%.
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