Update on OFAC License process
OFAC License for Rhum field extended by two months to 31 March 2025 pending new long-term license application.
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Serica Energy plc (AIM: SQZ) announces that the OFAC License and secondary sanctions assurance relating to the Rhum field (SQZ: 50%) have been extended by two months to 31 March 2025. This extension is to allow the processing of the Company's application for a new long-term license to be completed following the transition in US Administrations.
The License and assurance permit certain U.S. and U.S.-owned or controlled entities, and all non-U.S. entities, to continue providing goods, services and support to the Rhum field.
The Rhum field has benefited from an OFAC License continuously since 2013.
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