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Serica Energy ( (GB:SQZ) ) has provided an announcement.
Serica Energy announced a temporary suspension of production from the Triton FPSO due to damage caused by Storm Éowyn. The storm triggered a shutdown of the fire and gas detection system, and repairs are underway to address minor damage to a cargo tank and an issue with the inert gas line. Production is expected to resume in mid-to-late March. The company is reviewing its 2025 production guidance and maintenance schedules as a result. A third-party engineering study suggests that, with continued maintenance, the Triton FPSO could operate into the next decade, which could have long-term benefits for Serica’s production capabilities.
More about Serica Energy
Serica Energy is a British independent oil and gas exploration and production company with a portfolio of UKCS assets. The company is responsible for about 5% of the natural gas produced in the UK, playing a key role in the country’s energy transition. Serica’s main operational focus lies in the Bruce, Keith, and Rhum fields in the UK Northern North Sea and fields connected to the Triton FPSO.
YTD Price Performance: 7.84%
Average Trading Volume: 1,172,964
Technical Sentiment Consensus Rating: Hold
Current Market Cap: £569.2M
See more insights into SQZ stock on TipRanks’ Stock Analysis page.
