UK offshore industry welcomes the news that EnQuest’s £4-billion Kraken development is to go ahead, a project set to recover around 140 million barrels of oil from the North Sea, secure thousands of jobs and generate billions of pounds of revenue for the Treasury over the next 25 years. The project, EnQuest’s sixth production hub in the UK North Sea, will benefit from heavy oil allowances which the Government has provided to stimulate investment in the UK North Sea. “This is yet another clear sign that opportunity remains in the North Sea. This project reiterates the importance of the measures that need to be taken to secure the continued success of our industry.