EnQuest approved to develop £4bn Kraken oil in the North Sea

The UK government has approved a £4bn investment in the Kraken heavy oil field in the North Sea. The Kraken field, which is estimated to contain nearly 140m barrels of oil, is majority-owned by Aberdeen-based EnQuest.

The field is estimated to contain nearly 140m barrels of oil and En Quest have estimated that it will create 20,000 jobs during construction and an average of 1,000 operational jobs per year over the course of its 25-year life.

The Kraken field is located about 125km (77 miles) east of the Shetland Islands and  Enquest have a 60% interest in Kraken.

 

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