UK-based upstream oil and gas player Serica Energy has secured a 2017-built semi-submersible rig for a multi-well drilling campaign in the North Sea, which will kick off at the Bruce field next year, representing the firm’s first drilling activity there in nearly fifteen years.
Serica Energy has signed a contract for the Odfjell Drilling-operated Beacon Pacific rig to execute a multi-well UKCS drilling campaign, targeting high-return, near-field opportunities across the North Sea operator's portfolio, with the potential to add up to 30,000 barrels of oil equivalent per day (boepd) of incremental production, helping to sustain portfolio production of 50,000 boepd into the next decade.
The 2017-built Beacon Pacific sixth-generation semi-submersible rig, upgraded for operations to a depth of 620 meters, is capable of addressing the full range of the company's identified drilling opportunities, with the possibility to also utilize the rig to undertake required plugging and abandonment (P&A) activity.
The contract encompasses a firm scope of six wells, along with further options for additional activity. Drilling is expected to begin in Q3 2027 with the first wells drilled at the Bruce field since 2012, targeting more than 10,000 boepd of incremental production, with the potential for first production approximately 12 months from the start of drilling activities.
"Securing the rig is an important milestone in delivering our organic growth program. Our first campaign will be at Bruce - the field's first drilling program in almost fifteen years - where we are targeting high-return infill wells with the potential for rapid payback. Utilizing the Beacon Pacific also gives us the operational flexibility to progress additional opportunities across Kyla and the Greater Laggan Area, following partner and regulatory approval, maintaining momentum in our wider UKCS portfolio. "
Odfjell Drilling has confirmed Serica Energy's drilling contract with Beacon Pacific Offshore for the Beacon Pacific rig, explaining that its scope of work will be to carry out the operational management of the semi-submersible throughout the duration of the contract, including the mobilization and transit of the rig to the United Kingdom, with reactivation activities already partially underway ahead of the firm's takeover of rig management duties.
This rig deal comes a month after Serica completed an acquisition that expanded its asset portfolio, adding a 15% non-operated working interest in the Cygnus gas field, a 25% non-operated working interest in the Clipper South gas field, operated positions across various assets in the Greater Markham Area (GMA), and further operated and non-operated interests in gas fields across the Southern North Sea.
"We are delighted to support the owners of the Beacon Pacific and Serica Energy on this exciting project and look forward to expanding our fleet to nine high-spec, harsh-environment drilling rigs. The Beacon Pacific is similar in capability and specification to the Deepsea Yantai, which we have been managing for many years now. This is an exciting new opportunity for us and we look forward to working collaboratively with all parties to prepare the rig for operations and execute a successful drilling campaign in the UK sector."