REG - Serica Energy PLC - Update on production at Triton FPSO

Serica EnergyAnnouncement

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RNS Number : 4614C  Serica Energy PLC  08 October 2025

 

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:

 

 Serica Energy plc                                                         +44 (0)20 7487 7300
 Martin Copeland (CFO) / Andrew Benbow (Group Investor Relations Manager)

 Peel Hunt (Nomad & Joint Broker)                                          +44 (0)20 7418 8900
 Richard Crichton / David McKeown / Emily Bhasin

 Jefferies (Joint Broker)                                                  +44 (0)20 7029 8000
 Sam Barnett / Cameron Jones

 Vigo Consulting (PR Advisor)                                              +44 (0)20 7390 0230
 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 (http://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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