Press

Serica Energy: Operations Update


London, 9 March 2018 – Serica Energy plc (AIM: SQZ), an independent oil and gas company with production, development and exploration licence interests in the UK North Sea and exploration interests in Ireland and Namibia, hereby provides an operations update.

UK North Sea Erskine Field

As announced on 22 January and 29 January a blockage occurred on the Lomond to Everest condensate export pipeline during routine cleaning operations. Following deployment of specialist pumping equipment, some communication across the blockage has been achieved and the plan is to continue with pressure pulsing until significant breakthrough. In parallel, a permanent solution to the pipeline wax problem is being advanced. Further updates will be made in due course.

UK North Sea Bruce, Keith and Rhum Fields

Since restart in January, following the shut-down of the Forties pipeline, Bruce, Keith and Rhum fields (BKR) have produced on average approximately 16,000 boe/d net to BP. Serica has agreed to acquire BP's interests in these fields with an effective date of 1 January 2018. Subject to completion of the transaction, which is anticipated in the third quarter of 2018, Serica will receive 40% of the net cash flow for BKR in 2018, rising on a stepped basis to 100% in 2022. Commodity prices for the year to date have been stronger than seen in recent years, with NBP gas pricing averaging 52p/therm and Brent oil pricing averaging $67.50/barrel.

Technical Information

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).

Regulatory

This announcement is inside information for the purposes of Article 7 of Regulation 596/2014.



New service from OilVoice
Trip Shepherd is for companies who need to track their staff in areas of risk.
It's free to use, so we invite you to try it.

Visit source site

serica-energy.com/downloads/releases/Serica%20Ener...

Serica EnergyOperations UpdateUKNorth SeaIrelandNamibiaUnited Kingdom

More items from oilvoice


Cyber Security Experts Unite to Protect Europe’s Critical Industries

CS4CA Summit Returns to London this October Staying abreast of fast-paced industry developments is crucial for cyber security professionals. And while one can learn a lot from publications and social media, it's hard to beat the value of insights gained first-hand from peers. This is why 150+ IT ...

OilVoice Press - OilVoice


Posted 10 days agoPress > cybereurope

Africa E&P Summit

The organisers of the Africa E&P Summit are bringing together Africa's leading exploration companies and governments, just one of the many reasons why you should be attending frontier's event that they are organising and hosting in London at the IET: Savoy Place, 22-23 May. Over 200 key senior exec ...

OilVoice Press - OilVoice


Posted 4 months agoPress > Africasummitoil summit +2

Equinor Deepens in Offshore Wind in Poland

Equinor has exercised an option to acquire a 50 % interest in the offshore wind development project Bałtyk I in Poland from Polenergia. This transaction is a follow-up of the agreement between the two companies which came into force in May 2018 , by which Equinor acquired a 50 % inter ...

OilVoice Press - OilVoice


Posted 8 months agoPress > EquinorEquinor EnergyPoland +2

Nigeria has highest capex on crude and natural gas projects in sub-Saharan Africa Over Next Seven Years, says GlobalData

Nigeria accounts for more than 34% of the proposed capital expenditure (capex) on planned and announced crude and natural gas projects in the sub-Saharan Africa over the period 2018–2025, according to GlobalData , a leading data and analytics company. The company's report: ‘H2 2018 Production ...

OilVoice Press - OilVoice


Posted 8 months agoOpinion > GlobalDataNigeriaCrude +5

CNOOC Signs Strategic Cooperation Agreements with 9 International Oil Companies

HONG KONG, Dec. 18, 2018 /PRNewswire/ -- CNOOC Limited (the "Company", SEHK: 00883, NYSE: CEO, TSX: CNU) announced today that its parent company, China National Offshore Oil Corporation (CNOOC), has signed Strategic Cooperation Agreements with 9 international oil companies including: Chevron, Conoco ...

OilVoice Press - OilVoice


Posted 9 months agoPress > CNOOCChina National Offshore Oil CorporationChevron +11
All posts from oilvoice