Bruce Platform Restart

RNS Number : 3579F

Serica Energy plc

09 March 2020

 

Serica Energy plc

("Serica" or the "Company")

Bruce Platform Restart

London, 9 March 2020 - Serica Energy plc (AIM: SQZ) is pleased to announce that production has restarted from the Bruce platform.

As previously announced on 30 January 2020, production was halted on Bruce whilst engineering work was carried out to secure an unused caisson, which was found to be in a deteriorated condition. The engineering work has been successfully completed and production has restarted. It is anticipated that production from the Bruce, Keith and Rhum fields will be fully restored over the coming days.

Mitch Flegg, Chief Executive of Serica Energy, commented:

"We are delighted that we have been able to restart production considerably sooner than we had initially predicted.

Our expert teams onshore and offshore have successfully executed a programme of repairs during some of the most difficult weather conditions experienced in the North Sea for several years. Together with selected contractors we have completed these repairs safely and with no environmental impact.

This work will have no negative impact on future production rates or on the ultimate recovery of reserves from Bruce, Keith and Rhum."

Regulatory

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

Enquiries: Serica Energy plc [phone] Tony Craven Walker, Executive Chairman Mitch Flegg, CEO Peel Hunt (Nomad & Joint Broker) [phone] Richard Crichton / David McKeown / Alexander Allen Jefferies (Joint Broker) [phone] Tony White / Will Soutar Instinctif Partners [phone] Mark Garraway / Sarah Hourahane / Dinara Shikhametova [e-mail]

NOTES TO EDITORS

Serica Energy is a British independent oil and gas exploration and production company with exploration, development and production assets in the UK and exploration interests offshore Namibia.

Serica is the operator of the producing Bruce, Keith and Rhum fields in the UK Northern North Sea, holding a 98% interest in the Bruce field, a 100% interest in the Keith field and a 50% interest in the Rhum field.

Serica holds an 18% non-operated interest in the producing Erskine field in the UK Central North Sea and a 50% operated interest in the Columbus field for which development has been approved by the OGA and has commenced.

Further information on the Company can be found at www.serica-energy.com .

The Company's shares are traded on the AIM market of the London Stock Exchange under the ticker SQZ and the Company is a designated foreign issuer on the TSX. To receive Company news releases via email, please subscribe via the Company website.

 

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