UK oil & gas firm gets the go-ahead to bring field online as tie-back to North Sea FPSO

UK-based upstream oil and gas player Serica Energy has received a stamp of approval from the country’s regulator, North Sea Transition Authority (NSTA), to develop its operated field in the North Sea, which will be tied back to an existing floating production, storage, and offloading (FPSO) vessel.

The final approval from the NSTA will enable Serica Energy to develop its 100% owned and operated Belinda field as a tie-back to the FPSO Triton, following the drilling of a development well. The drilling activities are scheduled to begin in the first half of 2025. The draft field development plan was submitted in September 2023.

According to the UK company, the Belinda well is the fifth in its Triton area drilling campaign, which started in April this year, using the COSL Innovator drilling rig. The drilling program has been designed to enhance production via the FPSO Triton.

Located in Block 21/30f approximately 6 km southeast of the Triton FPSO, the Belinda field was discovered in 1990 and appraised in 2016. With production slated to commence in early 2026, the proven and probable reserves in the field are estimated at around 5 million barrels of oil equivalent, 80% of which is oil.

David Latin, Chairman and Interim CEO of Serica, commented: “We are delighted to have received approval to develop Belinda. This will build on our strong track record of delivering growth and adding value through investment in our assets.

“We have further potential projects in our portfolio which we continue to assess, including the possible re-development of the Kyle field, which could, like Belinda, be another low emissions tie-back candidate to the Triton FPSO.”

Moreover, Serica’s producing assets are focused around two main hubs: the operated Bruce, Keith, and Rhum fields in the UK Northern North Sea and a mix of operated and non-operated fields tied back to the FPSO Triton.

Dana Petroleum Limited and Waldorf Production UK Limited act as the company’s partners in the Triton cluster, after the firm acquired the entire issued share capital of Tailwind Energy Investments in a deal worth approximately £367 million.

In addition, the British player has operated interests in the producing Columbus in the UK Central North Sea and Orlando in the UK Northern North Sea fields and a non-operated interest in the producing Erskine field in the UK Central North Sea.

“We look to the UK government to implement tax and licensing arrangements that support investments like Belinda, thereby creating UK jobs, earnings and tax receipts instead of increasing reliance on energy imports,” added Latin.

Serica has been working on expanding its North Sea footprint. To this end, the firm joined NEO Energy’s redevelopment project – for which a field development plan (FDP) is due to be submitted shortly – and other potential developments.