North Sea-focussed oil producer EnQuest forecast lower annual production on Monday after storm damage to a third‑party platform led to a five-week outage at its Magnus field.
Severe weather disrupted operations in the UK North Sea early in 2026 after a "once‑in‑a‑decade" wave damaged the third‑party‑operated Ninian Central oil production platform, triggering an unplanned outage across the system, including at EnQuest's Magnus field.
Magnus production resumed in the early hours of February 22.
"2026 has begun with extreme weather in the UK North Sea, which disrupted our operations in January and February," CEO Amjad Bseisu said, adding that the company remains confident of maintaining stable year‑on‑year production.
The company forecast 2026 production in the range of 41,000-45,000 barrels of oil equivalent per day (boepd), after last year's output of 45,606 boepd exceeded its expectations, with facilities running roughly 90% of the time.
(Reuters - Reporting by Ankita Bora in Bengaluru; Editing by Sumana Nandy and Subhranshu Sahu)