Serica Energy has started production from its Rhum R3 well in the North Sea, 16 years after it was originally drilled by BP.
The well, which started-up on August 23, has averaged more than 190million standard cubic feet of gas per day and 1,400 barrels of condensate.
The boost has increased rates at the Rhum field from 26,000 barrels of oil equivalent per day to 34,000.
CEO Mitch Flegg said: “I would like to congratulate everyone in the Company for the incredible achievements required to overcome the technical challenges involved in establishing first production from this well some 16 years after it was originally drilled.
“This is a significant result for Serica and the addition of a third prolific Rhum well is excellent news. Despite the challenges we faced, the additional production and accelerated cash flows will lead to a rapid payback on the capital invested, particularly as we are immediately benefitting from the current high gas prices. Not only will this well enable enhanced production rates from the field, but it will also provide redundancy to help maintain future production.
“The successful R3 project is a demonstration of Serica’s ongoing strategy of investment in capital growth projects designed to boost our production levels whilst continuing to reduce our carbon intensity. The next project will be Columbus where we expect first production in Q4 this year.”