EnQuest is the largest UK independent oil producer in the UK North Sea. Since its IPO in early 2010, it has been growing rapidly; it generated EBITDA of US$ 626 million in 2012 and is targeting compound annual production growth of over 20% p.a. to 2014. It has net 2P oil reserves of 128 million barrels and a reserve life of 15 years. It operates its own production licences and has a workforce of 1,300. Its 2013 capital programme of US$ 1 billion is one of the largest in the UK North Sea.