Last 13.63 GBp
Change Today +0.25 / 1.87%
Volume 190.3K
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As of 11:35 AM 07/30/14 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

52 George Street

London, W1U 7EA

United Kingdom

Phone: 44 20 7487 7300

Fax: 44 20 7487 7330

Serica Energy PLC operates as an international oil and gas exploration and production company that engages in the identification, acquisition, and exploitation of oil and gas reserves primarily in Asia and Europe. It principally focuses on the United Kingdom North Sea, northern Spain, and Indonesia regions. INDONESIA The company has interests in three Production Sharing Contracts (PSCs) and one Technical Assistance Contract (TAC): : The Lematang Production Sharing Contract (PSC) in South Sumatra, Glagah Kambuna TAC in the offshore North Sumatra,The Offshore Asahan PSC in the Malacca Strait, and The Biliton PSC in the Java Sea. Lematang PSC: Lematang covers an area of approximately 407 square kilometers and is located within the prolific South Palembang Basin where oil and gas were first discovered in the late nineteenth century. The company has a 10% working interest in Lematang. Lematang includes the producing Harimau Field, the Singa gas discovery and further exploration potential. Asahan Offshore PSC: The Asahan Offshore PSC comprises an area of 2,012 square kilometers of the Malacca Straits. It is located offshore North Sumatra, one of the most prolific hydrocarbon bearing basins in Indonesia with discovered reserves to date in excess of one billion barrels of oil/ condensate and 25 trillion cubic feet of gas. Serica operates this PSC on behalf of its partners: Medco Energi, PT RS Resources, Jagen and Greevest. Several exploration wells have been drilled in Asahan generating one undeveloped discovery of gas and condensate, the Tanjung Perling Field. Glagah Kambuna TAC: The Glagah Kambuna TAC comprises an area of 351 square kilometers and lies immediately adjacent to Asahan. Serica operates this TAC on behalf of its partners: PT Gunakarsa, Jagen and Greevest. Glagah Kambuna contains two undeveloped but tested gas and condensate discoveries: Glagah-1 and Kambuna-1. Biliton PSC: Biliton covers an area of 6,575 square kilometers of the Java Sea, mid way between the islands of Java and Kalimantan. Serica has a 90% interest in Biliton and is operator on behalf of its partner PT Mitra. UNITED KINGDOM The company holds four licences covering six blocks in the Southern North Sea and one licence covering two blocks in the Central North Sea. The licences are: P.898, P.1142, P.1180, P.1240, and P.1253. P.898 – BLOCK 48/16B: The company holds 100% of this block, which covers an area of 62 square kilometers in the Southern North Sea. P.1240 – 48/16A AND 47/20B: The company holds 100% of these blocks, which cover an area of 315 square kilometers in the Southern North Sea. P.1142 – BLOCKS 47/17 AND 47/18: The company holds 100% of these blocks, which cover an area of 459 square kilometers in the Southern North Sea. P.1180 – 23/16E AND 23/17B: The company holds 50% of these blocks, which cover an area of 24 square kilometers in the Central North Sea. P.1253 – 54/1B: The company holds 100% of this block, which covers an area of 106 square kilometers in the Southern North Sea. SPAIN The company explores and develops oil and gas in four Hydrocarbon Research Permits covering approximately 1,300 square kilometres of onshore northern Spain. The area is located entirely within the province of Aragón, and lies approximately 60 kilometres southeast of the existing Serrablo gas field. The company holds a 100% operating interest in each of the four permits. Agreements Vietnam Oil and Gas Corporation, Pearl Oil (Taconite) Limited, Serica Energy PLC and Lundin New Ventures B.V have entered into an agreement to search, explore and exploit Block 06/94 offshore Vietnam. Block 06/94 covering approximately 4,100 over sq. km lies in the Nam Con Son Basin to the south of Vietnam's continental shelf. Serica Energy PLC has entered into a cross-assignment agreement with BG International, Ltd. that provides, in certain specific circumstances, for Serica to exchange with BG a 25% interest in Block 23/16f for a 25% interest in Part Block 23/21 (excluding the Lomond field) and for BG to participate in the costs of the Columbus well, 23/16f-11. Significant Events Serica Energy PLC has an agreement with Rwe Dea Ag for RWE to farm-in to Serica's exploration licence PEL 01/06 covering three blocks in the southern Slyne Basin off the west coast of Ireland. Serica has a 100% working interest in licence PEL 01/06 and has identified four prospects lying in the blocks, two of which exhibit amplitude anomalies and are ready to drill. Under the terms of the farm-out agreement, RWE would earn a 50% working interest in PEL 01/06. History Serica Energy PLC was founded in 2004. The company was formerly known as Serica Energy Corporation and changed its name to Serica Energy PLC in September 2005.

 

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