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Serica Energy adds acreage near Bruce area

The UK's latest licensing round primarily comprises blocks in mature, producing areas close to existing infrastructure.

Serica Energy Plc - Serica Energy adds acreage near Bruce area

Serica Energy Plc (LON:SQZ) told investors it has been offered a new licence covering four UK Northern North Sea blocks in the 32nd UKCS Licensing Round.

The company, in a statement, noted that all its new blocks will be 100% owned, are in the vicinity of the Bruce field area, and none come with any drilling commitments.

READ: United Oil & Gas expands North Sea footprint

UK regulator the Oil and Gas Authority (OGA), separately confirmed it has offered 113 licence award, representing over 259 blocks or part-blocks, to 65 companies in the 32nd Offshore Licensing Round.

The round primarily comprised blocks in mature, producing areas close to existing infrastructure.

Additionally, amidst the pandemic and broader uncertainty, the OGA noted that the awards are made under flexible terms to allow applicants to define a licence duration and phasing that will allow them to execute optimal work programmes.

Quick facts: Serica Energy Plc

Price: 112 GBX

AIM:SQZ
Market: AIM
Market Cap: £299.89 m
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