Forties Pipeline and Erskine Field restart

RNS Number : 8636A

Serica Energy plc

03 January 2018

 

Serica Energy plc ("Serica" or the "Company")

Forties Pipeline and Erskine Field restart

London, 3 January 2018 - Serica Energy plc (AIM: SQZ) is pleased to report that the Erskine field has resumed production following the successful repair of the Forties Pipeline System. 

Erskine was shut in on 11 December 2017 and during the last few days, production has gradually been restarted at increasing rates with production currently around 2,000 boe per day net to Serica. 

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.

Enquiries:
Serica Energy plc
Tony Craven Walker Executive Chairman	[e-mail]	[phone]
Mitch Flegg CEO	[e-mail]	[phone]
Peel Hunt
Richard Crichton	[e-mail]	[phone]
Ross Allister	[e-mail]	[phone]
Chris Burrows	[e-mail]	[phone]
Instinctif
David Simonson	[e-mail]	[phone]
Laura Syrett	[e-mail]	[phone]
George Yeomans	[e-mail]	[phone]

NOTES TO EDITORS

Serica Energy is an oil and gas exploration and production company with exploration, development and production assets in the UK and exploration interests in the Atlantic margins offshore Ireland, and Namibia. Serica holds an 18% non-operated interest in the Erskine field in the UK Central North Sea.

In November 2017 Serica announced the proposed acquisition of BP's interests in the Bruce, Keith and Rhum fields in the North Sea and associated infrastructure. Under the terms of proposed acquisition Serica will acquire a 36% interest in Bruce, a 34.83% interest in Keith and a 50% interest in Rhum (collectively the "BKR Assets"). The deal has an effective date of 1 January 2018 and completion of acquisition is expected to take place in mid-2018.

Further information on the Company and the proposed acquisition of the BKR Assets can be found at www.serica-energy.com.

The Company is listed on the AIM market of the London Stock Exchange under the ticker SQZ and is a designated foreign issuer on the TSX. To receive Company news releases via email, please contact [e-mail] and specify "Serica press releases" in the subject line.

 

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