31st Oct 2023 10:53
Serica Energy PLC - UK North Sea-focused oil and gas company - Subsidiary Tailwind Energy Chinook Ltd receives 100% interest in UK block 29/2a, which contains the decommissioned Kyle oil field. "Serica will have no obligations in respect of the prior decommissioning as a result of the licence award. During an initial two-year licence period, Serica will carry out studies to determine the feasibility of re-developing the Kyle field by means of a subsea tie-back to the Triton floating production storage & offloading vessel via the Bittern field facilities," Serica says. It has a 46% interest in the Triton FPSO vessel and a 64% interest in the Bittern field. Triton is located about 120 miles east of Aberdeen in Scotland and produces oil and gas from the Bitternfield and other fields.
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12-month change: down 21%
By Tom Budszus, Alliance News reporter
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