Serica has agreed to take over BP, Total E&P, BHP and Marubeni’s interests in the Bruce (98%) and Keith (100%) assets and BP's interest in the Rhum (50%) asset, with BP and Total E&P retaining 1% of Bruce. Serica will also be taking over operatorship of Bruce from BP. Collectively, these assets are estimated to contain net 2P reserves of 63.7 mmboe as of 01.01.18, of >80% gas. Completion of the transaction is targeted to occur at the end of November 2018.
Partners: (post completion): Serica (operator) 50%, IOC 50%
The Rhum gas field is located in block 3/29a, 44km north of Bruce and is a subsea development tied back to the Bruce platform via an insulated pipeline. Rhum is a strategic UK gas asset with significant upside potential.
* Based on OGA production numbers for 2017
Upon completion, operatorship of the Assets will transfer from BP to Serica, enabling Serica to drive full potential from the Assets.
Serica 18%, Chevron (operator) 50%, Chrysaor 32%
Serica holds an 18% non-operating interest in the Erskine field, located in the UK Central North Sea, which it acquired from BP in June 2015.
The field, operated by Chevron, is a High Pressure High Temperature (HPHT) gas condensate field and was originally discovered in 1981. Main reserves lie in three separate, but generally overlying, Jurassic sandstone-producing horizons. The field has been developed with five producing wells.
The production facilities comprise a normally unmanned platform located at Erskine with production handled and controlled from the Chrysaor-operated Lomond platform, 30km to the north. The Lomond Platform lies 269km east of Aberdeen, adjacent to the Columbus field.
Gas and liquids produced from Erskine are transported to the Lomond platform via a 16in nominal bore multiphase pipeline where the fluids are processed.
Gas is then delivered via Everest and the CATS pipeline system to a terminal at Teeside.
The condensate separated at the Lomond platform is delivered via the Forties pipeline to Cruden Bay.
Gas Condensate Field