Columbus Development Well Spud

Serica Energy plc is pleased to announce the spud today of the Columbus 23/16f-CDev1 development well in the UK Central North Sea which will be drilled to a total depth of 17,600ft and will include a 5,600ft horizontal section. The well is being drilled with the Maersk Resilient Heavy Duty Jack Up rig and is expected to take around 70 days.

The Columbus development area is 35km north east of the Shearwater production facilities and will be drained by a single producing well tied into the existing Arran to Shearwater pipeline. A recent Competent Person’s Report estimates the Columbus gross undeveloped 2P reserves to be in excess of 14 million barrels of oil equivalent (“boe”).

After drilling this development well, an open-hole sand-screen completion will be installed and a short clean-up flow and well test will be performed to provide production data and prepare for flowing into the export system. The well will then be suspended.

Later in the year, the well will be connected to the Arran pipeline, through which Columbus production will  be  exported  along  with  Arran  Field  production.  When  the  production  reaches  the  Shearwater platform, the gas and liquids will be separated, and the gas exported via the SEGAL line to St Fergus and the liquids through the Forties Pipeline System to Cruden Bay.

Production is expected to commence in early Q4 2021, with average gross production forecast to be around 7,000 boe/d,of which over 70% is gas.

Serica is Operator and has a 50% interest in this low risk development opportunity offering attractive returns for the Company. Our partners are Waldorf Production UK Ltd (25%) and Tailwind Mistral Ltd. (25%).

An update will be provided when drilling operations are complete.

Further details on Columbus can be found at https://www.serica-energy.com/development

Mitch Flegg, Chief Executive of Serica Energy, commented:

“I am delighted that drilling operations have commenced on the development well, which is a significant milestone for the Companyas Columbus is the first development project that Serica has undertaken as operator in the North Sea.

We have worked closely with our partners and with infrastructure owners to design a cost-effective development which minimises environmental impact through, among other things, the extensive use of  pre-existing  infrastructure. Over  70%  of  Columbus  production will  benatural  gas  which  is  a  key element of the UK’s energy transition.

Elsewhere,  the  Rhum  R3  intervention  projectis  progressing  towards  completion  and,  following operations to the reinstate production,is expected to make a significant contribution to overall field performance.

Columbusand the Rhum R3 intervention work arepart of acontinuingprogramme of investment in our  portfolio whichis  planned to continue in 2022 with the North Eigg exploration well. Our
commitment to this investment is part of our long-term strategy to generate value from our portfolio of UK assets and leveraging our internal skillsets and strong financial position.”

Read the latest issue of the OGV Energy magazine HERE.