December 18, 2019

Serica Energy (UK) Limited has received an Out of Round award of a 100% interest in the UK petroleum licence P2501, blocks 3/24c and 3/29c. These are located in the area adjacent to the Serica-operated Rhum field.

The award contains the HPHT North Eigg and South Eigg prospects. The primary prospect is North Eigg which is estimated to contain 360 bcf (P50) and potentially over 1Tcf (P10) of recoverable gas, and is interpreted to share geological similarities with Rhum.

Serica has committed to drilling an exploration well within three years and in the event of a commercial discovery intends to develop the field via a subsea tie-back to the Serica-operated and 98% owned Bruce facilities. Read more…