Ship-To-Ship Transfer Of Kraken Oil At Sullom Voe
On 13 September, the transfer of around 500,000 barrels of crude oil produced from the EnQuest-operated Kraken field in the East Shetland Basin was completed at the Port. The transfer was made from The Heather Knutsen, a 277 metre long Canadian-registered shuttle tanker, to the Speedway, a 274 metre long, Greek-registered tanker.
This also marks the first new business for Sullom Voe Terminal since EnQuest took over its Operatorship last year, with the team handling logistical support to Shetland Islands Council for the ship-to-ship transfer.
Bob Davenport, Managing Director of EnQuest’s North Sea business, said: “We are pleased to have worked with Shetland Islands Council, the operators of the Port, and our other stakeholders to deliver the first ship-to-ship transfer at the Port since 2015. Ship-to-ship transfer is just one of the activities we are progressing with other stakeholders to maximise the long-term value of the Terminal.”
ENDS
EnQuest’s Armada Kraken field lies around 80 miles east of Bressay.
The last ship-to-ship transfer of crude oil at the Port of Sullom Voe, Shetland, took place in December 2015.
For further information please contact:
EnQuest PLC
Ian Wood (Communications & Investor Relations) Tel: +44 (0)20 7925 4900
Jill Glennie (Communications and Industry Affairs Manager, North Sea) Tel: +44 (0) 1224 975000 or +44(0)7471 350240
Tulchan Communications Tel: +44 (0)20 7353 4200
Martin Robinson
Martin Pengelley
Notes to editors
ENQUEST
EnQuest is one of the largest UK independent producers in the UK North Sea. EnQuest PLC trades on both the London Stock Exchange and the NASDAQ OMX Stockholm. Its operated assets include Thistle/Deveron, Heather/ Broom, the Dons area, Magnus, the Greater Kittiwake Area, Scolty/Crathes Alma/Galia and Kraken; EnQuest also has an interest in the non-operated Alba producing oil field. At the end of June 2018, EnQuest had interests in 20 UK production licences and was the operator of 18 of these licences.
EnQuest believes that the UKCS represents a significant hydrocarbon basin, which continues to benefit from an extensive installed infrastructure base and skilled labour. EnQuest believes that its assets offer material organic growth opportunities, driven by exploitation of current infrastructure on the UKCS and the development of low risk near field opportunities.
EnQuest is replicating its model in the UKCS by targeting previously underdeveloped assets in a small number of other maturing regions; complementing its operations and utilising its deep skills in the UK North Sea. In which context, EnQuest has interests in Malaysia where its operated assets include the PM8/Seligi Production Sharing Contract and the Tanjong Baram Risk Services Contract.
Forward-looking statements: This announcement may contain certain forward-looking statements with respect to EnQuest’s expectation and plans, strategy, management’s objectives, future performance, production, reserves, costs, revenues and other trend information. These statements and forecasts involve risk and uncertainty because they relate to events and depend upon circumstances that may occur in the future. There are a number of factors which could cause actual results or developments to differ materially from those expressed or implied by these forward-looking statements and forecasts. The statements have been made with reference to forecast price changes, economic conditions and the current regulatory environment. Nothing in this announcement should be construed as a profit forecast. Past share performance cannot be relied on as a guide to future performance.