Update on production at Triton FPSO
Summary by AI BETAClose X
08 October 2025
Serica Energy plc
('Serica' or 'the Company')
Update on production at Triton FPSO
Serica Energy plc (AIM: SQZ) announces that an issue with the flare system on the Dana Petroleum operated Triton FPSO resulted in a temporary suspension of production from 30 September.
The operator has advised that production is likely to restart shortly, with rates that are expected to be severely limited until the root cause of the problem is identified and resolved.
The production deferral means that Serica now expects production to be below the previously communicated 29,000 to 32,000 boepd guidance range.
As announced on 10 September, a vibration issue within the compression trains on the Triton FPSO led to work being undertaken on the A compressor, which was subsequently completed on 23 September. Production of 25,000 boepd net to Serica was delivered shortly afterwards.
Serica will make a further announcement as and when appropriate.
Chris Cox, Serica's CEO, stated:
"It is incredibly frustrating to once again be reporting on a non-operated asset that should be performing better than it is. We are stepping up talks with the operator regarding the future running of the Triton FPSO, aiming to deliver a more robust performance for all stakeholders with production levels that match the subsurface potential."
The technical information contained in the announcement has been reviewed and approved by Carla Riddell, Chief Technical Officer at Serica Energy plc. Ms. Riddell (B.Sc. Geology from University of Durham University, M.Sc. Palynology from University of Sheffield) has over 25 years of experience in oil & gas exploration, development and production and is a Fellow of the Geological Society of London and Energy Institute.
This announcement is inside information for the purposes of Article 7 of Regulation 596/2014.
-end-
Enquiries:
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Serica Energy plc |
+44 (0)20 7487 7300 |
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Martin Copeland (CFO) / Andrew Benbow (Group Investor Relations Manager) |
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Peel Hunt (Nomad & Joint Broker) |
+44 (0)20 7418 8900 |
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Richard Crichton / David McKeown / Emily Bhasin |
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Jefferies (Joint Broker) |
+44 (0)20 7029 8000 |
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Sam Barnett / Cameron Jones |
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Vigo Consulting (PR Advisor) |
+44 (0)20 7390 0230 |
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Patrick d'Ancona |
serica@vigoconsulting.com |
NOTES TO EDITORS
Serica Energy is a British independent oil and gas exploration and production company with a portfolio of UKCS assets. Serica has a balance of gas and oil production. The Company is responsible for about 5% of the natural gas produced in the UK, a key element in the UK's energy transition.
Serica's producing assets are focused around two main hubs: the Bruce, Keith and Rhum fields in the UK Northern North Sea, which it operates, and a mix of operated and non-operated fields tied back to the Triton FPSO. Serica also has operated interests in the producing Columbus (UK Central North Sea) and Orlando (UK Northern North Sea) fields and a non-operated interest in the producing Erskine field in the UK Central North Sea.
Serica has a two-pronged strategy for growth comprising investment in its existing portfolio and M&A. Further information on the Company can be found at www.serica-energy.com. The Company's shares are traded on the AIM market of the London Stock Exchange under the ticker SQZ. To receive news releases via email, please subscribe via the Company website.
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