During the outage, EnQuest conducted infill drilling, well interventions, and optimization work, boosting production capacity. These efforts, combined with maintenance activities completed during the downtime, have eliminated the need for a planned seven-day maintenance shutdown in the second half of 2025. The next scheduled shutdown at Magnus is now set for 2026.
EnQuest’s Chief Executive, Amjad Bseisu, stated: “Through strong reservoir management and good infill drilling results, in April we delivered Magnus oil production of 16,800 barrels per day, the highest rate since 2022.” He added that a third infill well, part of the 2025 drilling program, is expected to come online in June, further enhancing output. EnQuest maintains its production guidance of 40,000 to 45,000 barrels of oil equivalent per day, including pro forma volumes from Vietnam.
Bseisu emphasized the company’s focus on cost optimization to improve efficiency in a low commodity price environment. He noted: “The diversified growth we have already delivered in South East Asia is creating a better balance within our portfolio and brings significant future opportunity. We remain focused on delivering a material UK transaction in the short term, and we are resolute in our belief that our relative advantages, both operational and fiscal, see us ideally placed as a North Sea consolidator.”
EnQuest acquired the Magnus field, located 160 kilometers northeast of Shetland, from BP in 2018. The company also operates other UK assets, including Kraken, Golden Eagle, Greater Kittiwake Area, Scolty/Crathes, and Alba. In May 2024, EnQuest celebrated a milestone of 70 million barrels of oil produced from the Kraken field since its start in 2017.
