Update on production at Triton FPSO
Flare system issue at Triton FPSO suspends production; guidance for 29,000-32,000 boepd now unachievable.
vs expectations: below guidance
- Production guidance range 29,000 to 32,000 boepd
- Expected production now below 29,000 to 32,000 boepd
- Production achieved after A compressor work 25,000 boepd net to Serica
Select text to share a quote on X · sign in to keep highlights & notes in your SQZ notes
Serica Energy plc (AIM: SQZ) announces that an issue with the flare system on the Dana Petroleum operated Triton FPSO resulted in a temporary suspension of production from 30 September.
The operator has advised that production is likely to restart shortly, with rates that are expected to be severely limited until the root cause of the problem is identified and resolved.
The production deferral means that Serica now expects production to be below the previously communicated 29,000 to 32,000 boepd guidance range.
As announced on 10 September, a vibration issue within the compression trains on the Triton FPSO led to work being undertaken on the A compressor, which was subsequently completed on 23 September. Production of 25,000 boepd net to Serica was delivered shortly afterwards.
Serica will make a further announcement as and when appropriate.
Chris Cox, Serica's CEO, stated:
"It is incredibly frustrating to once again be reporting on a non-operated asset that should be performing better than it is. We are stepping up talks with the operator regarding the future running of the Triton FPSO, aiming to deliver a more robust performance for all stakeholders with production levels that match the subsurface potential."
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.