Serica Energy plc announces that, following conversations with the operator, Dana Petroleum (‘Dana’), regarding the timeline required to deliver the scope of work, production from the Triton FPSO is now not expected to recommence before May. It was previously anticipated that critical repairs following the aftermath of Storm Éowyn in January would be completed, and production would then resume, in mid-to-late March.
Due to the ongoing maintenance issues and the performance of the Triton FPSO over the last 12 months, the Company is discussing with Dana all options to secure a lasting improvement in the operating performance of the FPSO.
Chris Cox, Serica’s CEO, stated:
“Our frustrations with the ongoing performance of the Triton FPSO have been well documented – it is not good enough for Serica, and it is not good enough for our shareholders. Our drilling results around Triton have been tremendous, and these need to be converted into sustained production and cashflow. We are working closely with Dana to help support them with the current work, and to drive the change required to deliver a more predictable production performance going forward.”
