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Serica Energy Sees Busy Year Ahead

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Serica Energy expects to see a number of projects it is involved with begin to demonstrate their real value in 2013, according to an operations update issued by the company Monday.

The geographically-diversified junior said that its Columbus Field project in the North Sea is currently on schedule for first gas in mid-2015 after the UK the Department of Energy and Climate Change indicated it is content with the field's development plan, subject to certain conditions.

Serica said that tender documents for the construction and installation of the Bridge Linked Platform (BLP), through which Columbus field gas and condensate production will be exported, have been issued by BG as operator of the Lomond field with contractor bids to be received in the first quarter. Subject to the receipt of acceptable bids and arrangements between BG and the partners of the Arran field, the BLP construction project is projected to commence on schedule in 2013. In accordance with this schedule, first gas from the Columbus field will be achieved in mid-2015, the firm added.

Also on the UK Continental Shelf, Serica will be participating in a 3D seismic survey in the York area of the southern North Sea, while in the eastern Irish Sea it expects to complete a farm out of the Doyle prospect and prepare for early drilling

In Namibia, Serica expects a decision to be made later this year regarding the drilling of Prospect B in the Luderitz Basin after the full-scale processing and interpretation of a 3D seismic survey is completed during the first half.

In Morocco, the firm is involved in a two-well program that is due to begin in 4Q 2013, while in Ireland it is reviewing the potential to bring forward the drilling of the Muckish prospect in the Rockall Basin. Serica is also involved with RWE in the Slyne Basin, where site surveys on the Boyne and Liffey prospects have been completed before a well is planned for next year.

Serica Chairman Tony Craven commented in a statement:

"Serica's exposure to the major exploration potential of largely unexplored Atlantic Margin basins offshore Ireland, Morocco and Namibia, coupled with a field development and undrilled prospects in the maturer UK, provides the opportunity for both steady growth and transformational success and we look forward with confidence to 2013."


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