EnQuest, the largest UK independent oil producer in the North Sea, has completed the acquisition of a stake in the Kraken oil discovery, together with interests in the surrounding exploration acreage.
The transaction, first proposed on January 24th, will see EnQuest buy a 25% interest blocks 9/2b and 9/2c, including Kraken, from Nautical Petroleum which have a gross contingent resource estimate of 160m barrels of oil equivalents (MMboe).
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