Serica Energy PLC - London-based independent oil and gas exploration and production company - says it has received a renewed license and secondary sanctions assurance from the US Office of Foreign Assets Control for its 50% owned North Sea Rhum Field. The company says this allows operations and production at site, which delivers gas to UK consumers, to continue unaffected. Serica says the new license covers a 2 year period, to expire on January 31, 2025.
Chief Executive Officer Mitch Flegg says: "Once again we have secured a prompt renewal of the OFAC License for a period of a further two years. We are grateful to the UK government and regulatory authorities who have supported us in this process."
Current stock price: 271.02 pence per share, up 2.9% on Monday in London
12-month change: up 18%
By Harvey Dorset, Alliance News reporter
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Serica Energy (SQZ)