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26/06/2017

First Oil Begins Production At Kraken Field In North Sea

First oil has started to be delivered from the Kraken oilfield in the North Sea.

Located around 125 km east of the Shetland Islands, the field is the site of one of the largest new drilling operations following a £2 billion investment by EnQuest.

Around 128 million barrels of oil are estimated to be contained in the oilfield, which will support over 1,000 jobs per year during its 20-year lifespan.

Scottish Secretary David Mundell said first oil production will help ensure "skilled, secure jobs in the vital North Sea oil and gas industry".

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"The UK Government is committed to helping the oil and gas industry maximise future prosperity," he said.

"We stand ready to continue to support the industry as its seizes this tremendous opportunity."

Business and Energy Secretary Greg Clark said: "This is a landmark project for EnQuest and the UK oil and gas sector as one of the largest new oil fields to come on-stream in the North Sea in a decade.

"This has been made possible through significant UK government support worth £2.3 billion over two years to encourage investments of this type in the North Sea, supporting thousands of highly-skilled jobs.

"We'll continue to build on this support for the oil and gas sector as it looks to seize the significant opportunities that lie ahead."

The North Sea currently supports around 330,000 jobs across the UK with a supply chain that had an estimated turnover of £28 billion in 2016.

(LM/MH)

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