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EnQuest shares slide after oil producer cuts 2017 production forecast

The company said that 2017 output could be as much as 18 percent lower than previously expected after delays in bringing Kraken's floating production, storage and offloading (FPSO) vessel into operation and lower production from some of its other North Sea fields. EnQuest shares touched a two-month trough of 28.75 pence on the news and were down 10 percent at 29.50 pence at 0748 GMT. Kraken is one of a string of new North Sea fields that have started producing in recent months, heralding a small revival in the mature basin despite persistently weak oil prices.


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