EnQuest confirmed it has produced first oil from the North Sea’s largest new oil project in a decade, despite difficult industry conditions. The major UK independent oil producer announced that two of the three drill centres saw the first flow of oil last week at its...
Independent UK oil producer EnQuest (LSE:ENQ) has returned to the black this year after a US$1.2 billion write-down to the value of its assets contributed to losses of $1.3 billion in 2015. The company resorted to a $400 million refinancing package last October, which seems to...
British oil major BP (LSE:BP) will sell part of its stake in the Sullom Voe Terminal (SVT) and the Magnus oil field to EnQuest (LSE:ENQ). The oil field is located 160km north-east of the Shetland Isles in the North Sea, while the Sullom Voe oil and...