Serica Energy Plc (LON:SQZ) shares fell around 5% in early trading following news of a shutdown to the Forties pipeline in the North Sea which will impact on the group’s Erskine field.
The INEOS operated pipeline has been safely shut-down to allow a crack to be inspected.
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Erskine uses Forties as the main export route for its condensate output, therefore the field - and the others connected to the pipeline - will also be shut-down while the infrastructure is offline.
Serica told investors that it now expects Erskine’s full year production, to December 31, will average down to 2,000 barrels oil equivalent per day.
Changing hands at 72.1p, Serica shares were down 4.82%.