London, 12 January 201 8 – Serica Energy plc (AIM: SQZ) is pleased to report that it has been informed by BP Exploration Operating Company (“BPEOC”) , as operator of Bruce, Keith and Rhum , that the se field s ha ve each resumed production , following the successful repair of the Forties Pipeline System.
The fields were shut in on 11 December 2017 , along with all the other fie lds using the s ystem and have been brought back into production as part of a phased restart of the whole Forties Pipeline System.
On 21 November 2017, Serica announced that it had signed a Sale and Pur chase Agreement to acquire i nterests in the Bruce, Keith and Rhum fields from BP , subject to certain regulatory, government and partner consents. The deal has an effective date of 1 January 2018 and Completion of the Acquisition is expect ed to take place in mid - 2018.
The technical information contained in the announcement has been reviewed and approved by Clara Altobell, VP Technical at Serica Energy plc. Clara Altobell (MSc in Petroleum Engineering from Imperial College, London) has over 20 years of experience in oil & gas exploration, production and development and is a member of the Society of Petroleum Engineers (SPE) and the Petroleum Exploration Society of Great Britain (PESGB).
This announcement is inside information for the purposes of Article 7 of Regulation 596/2014.