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AIM-listed Serica Energy, a British independent oil and gas company with operations throughout the UK North Sea, recently announced plans to drill four wells in the Triton area, as well as work on the Bruce and Keith fields, as part of its investment programme for 2024 in the UK North Sea this year, which will include a mix of new wells and interventions.
The company intends to drill four wells in the Triton region (Bittern B1z sidetrack, Gannet E GE-05, Guillemot North West EC1, and Evelyn EV-02), anticipated drilling on the sidetrack beginning in March. The B1z sidetrack is anticipated to begin in March 2024. This well and the next three are expected to take around three months apiece, implying that drilling will continue till 2025. Serica additionally selected the option to keep the rig for a second well when the fourth well in the programme is completed (EV-02). The company has raised its output target to between 41,000 and 48,000 barrels of oil equivalent per day, up from 40,000 last year.
Serica is set to begin a 'determined program' of organic investments in 2024, which will stretch into 2025 and 2026. Serica's estimated cost for this year's initiatives is around £210 million ($264.7 million), excluding tax reductions.
Serica's CEO, Mitch Flegg, stated that production in 2024 is likely to be greater than in 2023, with a projection range of 41,000 to 48,000 boe/d for the year. This represents a variety of outcomes in a busy year, including the pace with which anticipated drilling and well work generate additional output. Serica's approach to investing in its assets is essential to our track record of regularly delivering high levels of reserve replacement while increasing output.
"We look forward to the start of the four-well Triton area drilling programme in March, with the benefits of increased production expected to begin in the second half of the year. During 2024, there is also a large programme of interventions in both platform and subsea wells on the Bruce and Keith fields. The goals include reestablishing steady output from the Keith field."
A significant intervention operation for platform and subsea wells in the Bruce and Keith fields is also planned for 2024 to re-establish Keith's output consistency. Serica will also work on the Skerryvore exploratory well in the UK's central North Sea, which is managed by Parkmead.
Read more- https://www.offshore-energy.biz/drilling-program-and-well-intervention-campaign-on-sericas-2024-agenda-in-north-sea/
