Operations in United Kingdom and Ireland Overview
United Kingdom
Serica has been actively involved in exploration in the UK since 2001 and holds licences in the Central North Sea, the Southern North Sea and the East Irish Sea. To date, Serica has participated in the drilling of six wells offshore UK, all of which found hydrocarbons. Three of the wells were gas discoveries and the remaining three were appraisal wells to these discoveries. Of these fields, a development plan has been submitted for the Columbus field but the Chablis field may be sub-commercial at current UK gas prices.
In addition to its discoveries under appraisal, Serica has a portfolio of prospective exploration acreage in the North Sea and East Irish Sea and plans to drill further exploration wells in these areas. Any potential finds could be economically attractive as the prospects lie in conventional water depths and within easy reach of existing infrastructure.
During 2009, Serica relinquished Blocks 14/15a and 54/1b (Oak) as no commercial potential could be realised. Serica also disposed of Blocks 48/16a and 48/16b (Chablis) but retained its interest in Block 48/17d in which most of the Chablis field upside is believed to lie.
The following table provides a summary of Serica’s assets in the UK:
| Block(s) | Description | Role | Interest | Location |
|---|---|---|---|---|
15/21g |
Exploration |
Partner |
30% |
Central North Sea |
22/19c |
Exploration |
Partner |
50% |
Central North Sea |
23/16f |
Columbus Development |
Operator |
50% |
Central North Sea |
23/16g |
Exploration |
Operator |
50% |
Central North Sea |
48/17d |
Chablis Appraisal |
Operator |
65% |
Southern Gas Basin |
110/2d |
Exploration |
Operator |
100% |
East Irish Sea |
113/26b & 113/27c |
Exploration |
Operator |
65% |
East Irish Sea |
Ireland
In August 2006 Serica was awarded offshore Frontier Exploration Licence 1/06, covering three blocks in the Slyne Basin off the west coast of Ireland. The licence is covered by modern 3D seismic data and is on trend with the Corrib gas field, currently being developed by Shell. In June 2009 the Company drilled an oil discovery well (27/4-1).
In July 2009 Serica was awarded offshore Frontier Exploration License 1/09, covering six blocks in the Rockall Basin off the north-west coast of Ireland. The licence is covered by modern 3D seismic and is immediately north of the Dooish gas-condensate discovery.
Below is an overview of Serica’s Irish licences:
| Block(s) | Description | Role | Interest | Location |
|---|---|---|---|---|
5/17, 5/18, 5/22, 5/23, 5/27, 5/28 |
Exploration |
Operator |
100% |
Rockall Basin |
27/4, 27/5 (part), 27/9 |
Exploration |
Operator |
50% |
Slyne Basin |