Finance
EnQuest sees lower 2026 oil production after North Sea platform outage
Published by Global Banking & Finance Review®
Posted on February 23, 2026
2 min readLast updated: February 23, 2026
Quick Summary
EnQuest lowered 2026 output guidance to 41,000–45,000 boepd after storm damage to the Ninian Central platform caused a five‑week outage at Magnus. Production restarted on February 22, 2026, and the CEO expects stable year‑on‑year volumes.
EnQuest cuts 2026 output outlook after North Sea platform outage
EnQuest 2026 Output Guidance After North Sea Outage
Feb 23 (Reuters) - 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.
Storm Damage and Ninian Central Disruption
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 Field Restarts on Feb 22
Magnus production resumed in the early hours of February 22.
CEO Amjad Bseisu on Stability
"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.
2026 Forecast vs Prior Output
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.
Reporting and Editing Credits
(Reporting by Ankita Bora in Bengaluru; Editing by Sumana Nandy and Subhranshu Sahu)
Key Takeaways
- •EnQuest cut 2026 output guidance to 41,000–45,000 boepd following a third‑party platform outage.
- •Storm damage to the Ninian Central platform caused a five‑week shutdown affecting the Magnus field.
- •Magnus production restarted on February 22, 2026 after repairs were completed.
- •CEO Amjad Bseisu said the company expects stable year‑on‑year production despite early‑2026 disruptions.
- •2025 output was 45,606 boepd with asset uptime around 90%, exceeding prior expectations.
Frequently Asked Questions about EnQuest sees lower 2026 oil production after North Sea platform outage
1What is the main topic?
EnQuest reduced its 2026 production guidance after storm damage to the Ninian Central platform triggered a five‑week outage at its Magnus field. Operations have since resumed.
2How long was the outage and when did Magnus resume?
The outage lasted about five weeks due to platform damage. Magnus production resumed in the early hours of February 22, 2026.
3What is EnQuest’s 2026 guidance and how did 2025 perform?
EnQuest now guides for 41,000–45,000 boepd in 2026. In 2025, it produced 45,606 boepd with uptime near 90%, beating expectations.
