The Company has reached an agreement to acquire BP’s and Total E&P's interests in the Bruce and Keith assets and BP's interest in the Rhum asset in the UK Northern North Sea – click here for more information.
Serica is also a partner on the licence for the Rowallan prospect, a large structural closure with net prospective resources estimated by Serica to be 20-60 mmboe (P50-P10 range). The Rowallan well is expected to be drilled in 2018.
Serica’s main focus is on production and development in the UK North Sea, complemented by a portfolio of oil and gas exploration opportunities, including interests in offshore licence blocks in the UK North Sea, Ireland and Namibia.
This diverse, balanced portfolio puts the company in an excellent position for future growth, with revenue from our producing assets and the ability to move on other interests when opportunities arise.
* Net 2P reserves Bruce, Keith, Rhum and Erskine projected at 01/01/18 based on CPRs
** Based on 2P reserves
All above assumes completion of Bruce, Keith and Rhum transaction, targeted Q3 2018