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 continental mainland. It comprises England, Scotland, Wales and North ...

-based

petroleum exploration Hydrocarbon exploration (or oil and gas exploration) is the search by petroleum geologists and geophysicists for deposits of hydrocarbons, particularly petroleum and natural gas, in the Earth#Crust, Earth using petroleum geology. Exploration m ...

and

production Production may refer to: Economics and business * Production (economics) * Production, the act of manufacturing goods * Production, in the outline of industrial organization, the act of making products (goods and services) * Production as a stati ...

company which operates mainly in the

United Kingdom Continental Shelf The UK Continental Shelf (UKCS) is the region of waters surrounding the United Kingdom, in which the country has mineral rights. The UK continental shelf includes parts of the North Sea, the North Atlantic, the Irish Sea and the English Channel; th ...

. 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 Pau ...

and the firm holds a secondary listing on

Nasdaq OMX Stockholm Nasdaq Stockholm, formerly known as the Stockholm Stock Exchange ( sv, Stockholmsbörsen), is a stock exchange located in Frihamnen, Stockholm, Sweden. Founded in 1863, it has become the primary securities exchange of the Nordic countries. As o ...

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 ...

British North Sea assets of

Petrofac Petrofac Limited is an international energy services company that designs, builds, manages and maintains oil, gas, refining, petrochemicals and renewable energy infrastructure. It is registered in Jersey (number 81792), with its main corporate off ...

and

Lundin Petroleum Lundin Energy (former Lundin Petroleum) is an independent oil and gas exploration and production company formed from Lundin Oil in 2001 and based in Sweden with focus on operations in Norway. It is listed on the Stockholm Stock Exchange. Lund ...

Operations

The firm has interests in six

oil field A petroleum reservoir or oil and gas reservoir is a subsurface accumulation of hydrocarbons contained in porous or fractured rock formations. Such reservoirs form when kerogen (ancient plant matter) is created in surrounding rock by the presence ...

s 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

* {{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