EnQuest plc is an independent
United Kingdom
The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Europe, off the north-western coast of the European mainland, continental mainland. It comprises England, Scotlan ...
-based
petroleum exploration and
production company which operates mainly in the
United Kingdom Continental Shelf. EnQuest shares are included on the main list of the
London Stock Exchange
London Stock Exchange (LSE) is a stock exchange in the City of London, England, United Kingdom. , the total market value of all companies trading on LSE was £3.9 trillion. Its current premises are situated in Paternoster Square close to St Pa ...
and the firm holds a secondary listing on
Nasdaq OMX Stockholm.
History
The company was formed in April 2010 by a combination of the
demerged
A demerger is a form of corporate restructuring in which the entity's business operations are segregated into one or more components. It is the converse of a merger or acquisition.
A demerger can take place through a spin-off by distributed or t ...
British North Sea assets of
Petrofac and
Lundin Petroleum.
Operations
The firm has interests in six
oil fields located in the Northern
North Sea
The North Sea lies between Great Britain, Norway, Denmark, Germany, the Netherlands and Belgium. An epeiric sea on the European continental shelf, it connects to the Atlantic Ocean through the English Channel in the south and the Norwegian S ...
, two of which (the West Don and Don Southwest fields) previously formed the Petrofac Energy Developments business unit and have a combined production of .
The other four (Broom, Heather, Thistle and Deveron) were part-owned by Lundin Petroleum prior to the creation of EnQuest and are capable of producing .
EnQuest is the operator of each field; its financial interests are as follows: In November, 2013, EnQuest were granted permission to develop the Kraken field which has an estimated 140 million barrels of oil.
EnQuest cleared to develop £4bn Kraken oil field off Shetland
BBC, 15 November 2013
References
External links
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{{Authority control
Oil and gas companies of the United Kingdom
British companies established in 2010
Companies listed on the London Stock Exchange
Organisations associated with Shetland