Serica Energy PLC Columbus First Production (5224T)
25 Noviembre 2021 - 12:59AM
UK Regulatory
TIDMSQZ
RNS Number : 5224T
Serica Energy PLC
25 November 2021
Serica Energy plc
("Serica" or the "Company")
Columbus First Production
London, 25 November 2021 - Serica Energy plc (AIM: SQZ), a
British independent upstream oil and gas company with operations
centred on the UK North Sea and over 80% gas production, provides
the following update on its Columbus field, located in the Central
North Sea.
We are pleased to announce that first production has been
achieved from Columbus. Hydrocarbons from the C1z development well
started flowing into the Arran subsea system on 24 November. The
comingled Arran and Columbus production streams are now being
exported to the Shearwater platform for processing and onward
export to the gas and liquid sales points. Columbus is expected to
be producing at its potential by early December. Further
information on flow rates will be issued as part of an Operations
Update in mid-December.
Mitch Flegg, Chief Executive of Serica Energy, commented:
"I am delighted that first production has been achieved, as
planned, during Q4 2021.
This marks a significant milestone for Serica as it reaches the
successful conclusion of its first development project. The Company
was involved in the original discovery of Columbus and has acted as
Operator through the appraisal and development phases and now into
operations. I look forward to updating the market in mid-December
by which time we expect to have ramped up production to a stable
level.
Serica's approach to increasing its production base and
providing much needed energy to the UK while seeking lower carbon
emission solutions, has been achieved by using shared existing
infrastructure to progress the development of Columbus.
This has been a complex project and I would once again like to
acknowledge the skill, hard-work and dedication of our project
team, the Shearwater and Arran Operators and our joint venture
partners Waldorf Production UK Ltd. and Tailwind Energy Ltd."
Regulatory
This announcement contains inside information.
The technical information contained in the announcement has been
reviewed and approved by Fergus Jenkins, VP Technical at Serica
Energy plc. Mr. Jenkins (MEng in Petroleum Engineering from
Heriot-Watt University, Edinburgh) is a Chartered Engineer with
over 25 years of experience in oil & gas exploration,
development and production and is a member of the Institute of
Materials, Minerals and Mining (IOM3) and the Society of Petroleum
Engineers (SPE).
Enquiries:
+44 (0)20 7390
Serica Energy plc 0230
Tony Craven Walker, Executive Chairman
Mitch Flegg, CEO
+44 (0)20 7418
Peel Hunt (Nomad & Joint Broker) 8900
Richard Crichton / David McKeown /
Alexander Allen
+44 (0)20 7029
Jefferies (Joint Broker) 8000
Tony White / Will Soutar
+44 (0)20 7390
Vigo Consulting 0230
Patrick d'Ancona / Chris McMahon / serica@vigoconsulting.com
Claudia Cowan
NOTES TO EDITORS
Serica Energy is a British independent oil and gas exploration
and production company with a portfolio of exploration, development
and production assets.
Columbus lies 35km north east of the Shearwater production
facilities and is being produced by a single well tied into the
existing Arran to Shearwater pipeline. A recent Competent Person's
Report estimates the Columbus gross undeveloped 2P reserves to be
in excess of 14 million barrels of oil equivalent ("boe").
Following the recent drilling of the development well, it was
connected to the Arran pipeline, through which Columbus production
will be exported along with Arran Field production.
When the production reaches the Shearwater platform, the gas and
liquids will be separated, and the gas exported via the SEGAL line
to St Fergus and the liquids through the Forties Pipeline System to
Cruden Bay. Serica is Operator and has a 50% interest in the field;
its partners are Waldorf Production UK Ltd (25%) and Tailwind
Mistral Ltd. (25%).
Serica is the operator of the producing Bruce, Keith and Rhum
fields in the UK Northern North Sea, holding interests of 98%, 100%
and 50% respectively, and holds a 50% operated interest in the
producing Columbus field in the UK Central North Sea. Serica also
holds an 18% non-operated interest in the producing Erskine field
in the UK Central North Sea.
Over 80% of Serica's production is natural gas, a key element in
the UK's energy transition.
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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END
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