UK Independent Serica Energy is targeting a development plan for the long-dormant North Sea Columbus field this year, the firm said today.
Serica is also firming up plans to drill its Rowallan prospect in North Sea block 22/18c in 2018 and is also planning a well on the Doyle prospect in the East Irish Sea.
Serica had been working on plans to tie back its UK North Sea Columbus field to a new bridge linked platform to the then BG Group operated (now Shell) Lomond platform, operating since 1993, a project then cancelled by BG Group in 2013.
Serica then acquired 18% stake in the nearby Erskine field from BP, hoping it would help it in its aim to get its nearby Columbus field developed through Erskine's small platform facility, which exports via Lomond.
The move, while leaving Serica without revenue for a number of months last year while Lomond was shut in for maintenance works, paid off. Erskine, operated by Chevron, has seen strong production since late August, ahead of guidance, averaging more than 3800 b/d net to Serica at improved commodity prices, with the Lomond offtake facilities averaging 95% in December.
Serica also increased its own interest in Columbus, from 33.2% to 50%, simplifying ownership of the field to help pave way for its progress.
Tony Craven Walker, Serica's chairman commented: "A strong second half operational performance from the Erskine field, boosted by much improved commodity prices and favorable exchange rate movements, has helped Serica following the six-month Erskine shut-in earlier in the year. The underlying resilience of Serica's balance sheet has allowed the Company to absorb the period of no income resulting from the shut-in and to enter 2017 in a strong position to take advantage of new opportunities to grow its asset base."
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