Gas Condensate Field
Block 22/19c was awarded to Serica in the 25th Round of UK Offshore Licensing. It occupies an area of approximately 75 square kilometres in the Central North Sea, approximately 20 kilometres west of Block 23/16f (Serica’s Columbus discovery).
In September 2012, Serica announced that it had reached a farm-out agreement with JX Nippon. Under the agreement, JX Nippon acquired an operated 85% interest in the licence, with Serica retaining 15%. As consideration, Serica is carried for its share of all future costs associated with the licence up to and including, the drilling of an exploration well to the Jurassic or deeper. In May 2014, ENI acquired a 50% interest from JX Nippon and is now operator for the licence. Following this, in 2016 Mitsui farmed into the licence for 20% equity.
The group has identified three significant deep High Pressure High Temperature (“HPHT”) prospects in the Jurassic and Triassic including the Rowallan prospect, a large structural closure spread over two blocks, with net propsective resources for Rowallan estimated by Serica to be 20 - 60 mmboe (P50 - P10 range).