BP has sold its 5% stake in North Sea operator Serica Energy (LON: SQZ) for £49.3 million.
Serica Energy confirmed Thursday that production had resumed from its Rhum field, following an outage reported last month.
“A really opportune moment” beckons for Serica Energy, according to chief executive Mitch Flegg, with gas prices strong, new production online and, since the turn of the year, reaching a major milestone for its North Sea business.
Serica Energy’s chief executive has reaffirmed the company’s commitment to pursuing an “investment-led strategy” this year.
Swedish renewables giant Vattenfall has lodged a scoping report on a planned redesign to a north-east onshore wind farm.
Serica Energy has started production from its Rhum R3 well in the North Sea, 16 years after it was originally drilled by BP.
Serica Energy has extended the life of its flagship Bruce field in the North Sea through to 2030.
Renewables firm Statkraft has reported a “strong response” to a call for local suppliers to get involved in a £20 million electricity grid improvement project it is preparing to start in Keith.
Serica Energy has announced its maiden dividend to “reward shareholders” despite the challenges of Covid-19.
Serica Energy has hailed “exceptional” results after nearly tripling its pre-tax profits in its first full year of operatorship for its Bruce, Keith and Rhum (BKR) assets in the North Sea.
Serica Energy has restarted its Bruce platform after a five-week shutdown following the discovery that an underwater structure had become “deteriorated”.
Serica Energy’s boss has said the firm is “well equipped” to withstand the two-month shutdown of its main producing assets in the UK North Sea.
London-listed oil firm Serica Energy expects to announce its maiden dividend in April following a year of “strong performance”.
Serica Energy’s boss has said the gains squeezed by his team from North Sea fields acquired a year ago show smaller companies can be more efficient.
Oil firm Serica Energy has announced a second deal in two days for stakes in the Bruce and Keith fields in the UK North Sea.
Serica Energy is closing in on two acquisitions after the US granted a waiver removing production obstacles on a UK North Sea field.
Serica Energy said today that the US had granted a conditional licence removing restrictions on production from a UK North Sea field.
Serica Energy said today that it remains "fully committed" to buying BP's interests in a North Sea field co-owned by Iran.
Serica Energy’s acquisition of stakes in a North Sea field co-owned by Iran is likely to go ahead despite the US’s withdrawal from an international pact, an analyst has said.