Oil and gas company Serica Energy’s subsidiary Serica Energy UK has received a new UK petroleum licence P2501 under blocks 3/24c and 3/29c, which is located adjacent to the Rhum field in North Sea.

UK Oil and Gas (UKOG) Authority has awarded Serica Energy an ‘Out of Round’ award covering this licence. Serica owns a 50% interest in the Rhum field.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

UKOG’s award comprises the high-pressure / high-temperature (HPHT) North Eigg and South Eigg prospects, with North Eigg serving as the primary prospect with 360 billion cubic feet (P50) and over one trillion cubic feet (P10) of recoverable gas. Sharing similar geological features with the Rhum field, the North Eigg prospect is clearly defined on three-dimensional (3D) seismic.

According to the company, it forms a structural trap sealed against the East Shetland bounding fault. Serica will drill an exploration well within three years, with plans to develop a commercial discovery through a tieback to the Bruce platform.

Serica Energy CEO Mitch Flegg said: “Since we completed our acquisition of the Bruce, Keith and Rhum (BKR) assets just over a year ago, our strategy has been to optimise economic returns through a hub strategy that includes operating efficiencies, investment and securing new third-party business in the BKR catchment area.

“In the event of a commercial discovery, the optimal development option will be a tie-back to the Bruce platform, which we would seek to fast track.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“These include planning for the rig intervention in 2020 designed to bring the Rhum-3 well into production for the first time and efforts to bring new third-party business to the Bruce facilities.”

In October 2019, Serica Energy received a renewed licence and secondary sanctions assurance from the US Office of Foreign Assets Control (OFAC) with respect to the Rhum field.