Serica Energy, UK, restarts production on Triton vessel

Serica Energy, a UK-based company, announced on Tuesday that the production of its Triton floating storage and offloading vessel (FPSO) in the North Sea had resumed on December 27. The wells are still being restarted and the process is ongoing to phase-in the new and existing producing wells.

It reported that its annual production in 2024 would average 34,600 barrels equivalent per day (boepd), a little below its previous estimate of 35,000-36,000.

In a press release, Serica CEO Chris Cox said that "production in the second half 2024 was clearly depressing and far below the potential of the assets we have."

Serica reported a problem in late October with a single compressor on the FPSO vessel. The company said at the time that its total production would be a little below 41,000-46,000 Boepd by 2024.

Cox stated that "At Triton, the main issue has been the operating vulnerabilities associated with reliance upon a single compressor for gas export. We have stayed closely in touch with the FPSO operators as they carried out root cause analyses in relation to repeated issues in H2 2024."

The company stated that the restart of Triton was longer than anticipated. Serica also experienced a brief period of unscheduled outage at the Bruce platform located in the North Sea.

Serica stated that the company is on track to resume operations at Triton with two compressors, which it hasn't seen since the beginning of 2024. This will be completed in the first three months of 2025. (Reporting by Arunima Kumar in Bengaluru; Editing by Sonia Cheema)

(source: Reuters)