Serica Energy resumes Erskine oil and gas output
Serica Energy said oil and gas production has resumed at the Erskine field after a pipeline blockage was cleared, and scheduled maintenance completed at the Lomond platform.
FTSE AIM All-Share
729.38
16:54 14/11/24
Oil & Gas Producers
7,938.55
16:38 14/11/24
Serica Energy
125.00p
16:40 14/11/24
"Since Serica acquired its interest in the Erskine field in June 2015, it has made a significant contribution to cashflow and profits," said chairman Tony Craven Walker.
"This has equipped us to withstand issues such as this shutdown. Now that production has resumed we expect this strong performance to continue as we seek to add further interests to increase shareholder value at a time of low oil and gas prices."
The pipeline blockage, which occurred earlier this year in the Lomond-Everest condensate export line, was caused when a foam cleaning device known as a pig became lodged in the pipeline due to a build-up of wax.