Serica has held an 85% interest in a Petroleum Agreement covering four blocks and part blocks in the Luderitz basin since December 2011. A 3D seismic survey covering an area of 4,180 square kilometres was completed on 01 October 2012. We have now commenced a process to attract one or more new partners to enter into a Joint Venture arrangement with us with the aim of drilling the first exploration well in 2015.
For more about our Namibia projects click here
Serica holds licence interests in the Foum Draa and adjacent Sidi Moussa Petroleum Agreements offshore Morocco. Following a farm-out to Cairn Energy, Serica has an 8.33% interest in the Foum Draa licence. Whilst initial drilling operations failed to find commercial hydrocarbons, they did encounter gas shows indicating an active thermogenic petroleum system. This drilling data is now being evaluated to develop a forward plan for the licence. In Sidi Moussa, Serica has a 5% working interest in the Sidi Moussa licence and is carried by Genel for its share of the cost of drilling the first well on the licence up to a gross well cost of US$50 million. A site survey has been completed and well is expected to be spud in Q3 2014.
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The Company currently holds licences in the Central North Sea, the Southern North Sea and the East Irish Sea, which includes a 50% interest in the Columbus Field, which is currently planned for development, an 18% interest in the Erskine field, which produces gas and liquids which are transported through the CATS pipeline and Forties pipeline system and several other material exploration prospects planned for near-term drilling.
Through a series of farm-in agreements, an exploration programme of the Company’s North Sea and East Irish acreage is planned for implementation in 2014/2015.
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Serica holds 100% interests in two large swathes of blocks in the Atlantic Margin Rockall Basin and has undertaken considerable work reprocessing 2D and 3D seismic data to delineate fully the prospectivity of these blocks.
Further south in the Slyne Basin, we have a 50% interest in two significant drill-ready prospects in Licence 01/06, the Boyne and the Liffey prospects. The blocks are located 40 kilometres south of the Corrib gas field in conventional water depths of 180 to 280 metres.
For more about our Ireland projects click here
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