(Alliance News) - Serica Energy PLC on Monday confirmed production from the Bruce field in the North Sea has restarted.
At the end of January, London-headquarted Serica discovered an unused caisson was in a "deteriorated" condition at Bruce. The repair work has now been completed, and Serica expects production from the Bruce, Keith, and Rhum fields to be fully restored in the next few days.
The Bruce, Keith, and Rhum fields are in the UK North Sea. Serica has 98% of Bruce, all of Keith, and 50% of Rhum.
Chief Executive Mitch Flegg commented: "We are delighted we have been able to restart production considerably sooner than we had initially predicted.
"Our expert teams onshore and offshore have successfully executed a programme of repairs during some of the most difficult weather conditions experienced in the North Sea for several years. Together with selected contractors we have completed these repairs safely and with no environmental impact."
"This work will have no negative impact on future production rates or on the ultimate recovery of reserves from Bruce, Keith and Rhum," Flegg added.
Shares were down 6.7% on Monday in London at a price of 82.30 pence each.
By George Collard; georgecollard@alliancenews.com
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Serica Energy (SQZ)