There are several hubs around the North Sea which will still be producing in a decade’s time – but 12 of these will be “key” thanks to their production upsides and emissions intensity, according to new research.
The head of Serica Energy has downplayed the chances of success at its North Eigg exploration well due to be spudded later this summer, but maintains the prospect is a good one.
Serica Energy (LON: SQZ) has said production at its Rhum field is not expected to restart for “at least two weeks” after a fault was identified with a subsea module.
“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 said today it had overcome technical challenges to perform a flow test on the Rhum gas field's third production well in the northern North Sea.
Drilling contractor Awilco crashed to pre-tax losses of $156 million in 2020, widening from a deficit of $30m in 2019 and driven by impairments and cancelled rig construction deals.
Serica Energy has started work to boost production at its Rhum field, while the 13million barrel Columbus project has been delayed to the second half of 2021.
Serica Energy’s boss said today that maintaining an “extremely low cost base” was a key factor in the company’s delivery of profits in the first half of 2020.
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”.