Serica Restarts North Sea Gas Platform

London-listed Serica Energy reported on March 9 it had restarted production at the Bruce platform in the UK North Sea, after halting operations in late January when a damaged caisson was identified.

Earlier Serica warned that repairing the caisson could take until late March. With the platform back online earlier than expected, output at the Bruce, Keith and Rhum fields should be fully restored over the coming days, Serica said in a stock filing.

"Our expert teams onshore and offshore have successfully executed a programme of repairs during some of the most difficult weather conditions experienced in the North Sea for several years," CEO Mitch Flegg said in a statement. "Together with selected contractors we have completed these repairs safely and with no environmental impact."

The platform's downtime will have no negative impact on future production rates or ultimate reserve recovery at the fields, he said.

Serica acquired a 98% stake in Bruce, a 100% interest in Keith and a 50% share in Rhum via a series of deals with BHP Billiton, BP, France’s Total and Japan’s Marubeni in late 2018. Prior to these acquisitions, its only asset was a non-operated stake in the North Sea's Erskine field.

The company produced 30,000 barrels of oil equivalent/day at Bruce, Keith, Rhum and Erskine in 2019, marking a 13% increase y/y. It aims to expand output further this year, after bringing on stream a new well at Rhum.