SQZ – Offshore licence awards in UK 30th Round

24 May, 2018 – Serica Energy plc (AIM: SQZ) is pleased to announce that the Company has provisionally been awarded three new exploration licence areas on the UK Continental Shelf in the UK’s 30th Offshore Licensing Round.
 
Rowallan South – Blocks 22/24f (split) and 22/25c (split), Serica Energy (UK) Limited: 20% working interest, operator ENI UK.  These blocks lie directly to the south of the Rowallan Prospect, in which Serica holds a 15% interest and which is due to be drilled later this year. The blocks are offered on condition of making a ‘drill or drop’ decision to enter the next phase.
 
Columbus West – Block 23/21b, Serica Energy (UK) Limited: 50% working interest, operator Summit Exploration and Production.  The block lies immediately to the west of Serica’s Columbus Field, which is in the advanced stages of development planning. The proposed work programme contains further seismic reprocessing and a ‘drill or drop’ decision to enter the next phase.
 
Skerryvore – Blocks 30/12c (part), 30/13c (split), 30/17h, 30/18c and 30/19c (part), Serica Energy (UK) Limited: 20% working interest, operator Parkmead. The Skerryvore prospect lies in the Central North Sea, 60km south of Serica’s Erskine field. The proposed work programme includes shooting new 3D seismic data and a contingent well decision.
 
Mitch Flegg, Chief Executive of Serica Energy, commented:
 
“We are delighted to have been offered the award of these UK offshore licences.  Gaining more acreage in the Rowallan South area will enhance our position in the event of a discovery during our planned exploration drilling later this year. The prospects to the west of Columbus have been identified using advanced seismic interpretation techniques that give a compelling story to exploration upside in the area and Serica is ideally positioned for fast-tracking a development if a well is successful. The Skerryvore blocks are within our Central North Sea focus area and contain opportunities at a number of reservoir intervals in a prolific producing area with a number of export options.”
 
Full announcement at http://www.serica-energy.com