Serica Energy Faces Another Production Halt After Triton Vessel Issues

UK's Serica Energy has again reduced its annual production guidance after operations at the Triton FPSO vessel in the North Sea were suspended due to a compressor seal issue. The company anticipates producing 35,000 to 36,000 boepd in 2024, lower than anticipated last week, with repairs expected to take two to four weeks.

Serica Energy, a prominent UK-based oil and gas company, has further slashed its full-year production estimates following another operational stoppage at its Triton floating production storage and offloading (FPSO) vessel. This marks the second forecast cut in as many weeks due to continued technical challenges in the North Sea.

After a brief resumption of production, Serica encountered an issue with a compressor seal, prompting a suspension of operations once again. This issue comes on the heels of an earlier problem with a gas compressor, affecting anticipated output figures.

The company now expects production to hover between 35,000 and 36,000 barrels of oil equivalent per day in 2024, down from its previous forecast of 37,000 boepd. Efforts by Dana Petroleum to address the repair needs are expected to span two to four weeks, affecting overall output from its current 28,000 boepd.

(With inputs from agencies.)