Independent operator Serica Energy (AIM: SQZ) has received final approval from the North Sea Transition Authority (NSTA) regulator for its £100 million Belinda development.
Serica said the Belinda field will be tied back to the Triton FPSO, operated by Dana Petroleum, following the drilling of the development well in the first half of 2025.
The Belinda well will be the fifth in Serica’s Triton area drilling campaign involving the COSL Innovator rig, which began in April this year.
© Supplied by Serica EnergySerica Energy chairman and interim chief executive officer David Latin said the Belinda development will build on the company’s “strong track record of delivering growth” through investment in its 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,” Mr Latin said.
“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.”
© Supplied by Serica EnergySerica said proven and probable reserves in the Belinda field are estimated at about five million barrels of oil equivalent, 80% of which is oil.
The company expects production to commence in the first quarter of 2026 following the tie-back to the Triton FPSO.
Serica Energy new chief executive
The Belinda field development approval announcement comes shortly after Serica named former Spirit Energy boss Chris Cox as the company’s new chief executive officer.
The new appointment follows the departure of former Serica chief Mitch Flegg after six years at the helm.
One of Mr Cox’s priorities in the new role will be identifying opportunities for mergers and acquisitions for Serica as the company continues to target significant growth.
In a recent interview with Energy Voice, Serica’s inter chairman Mr Latin said firm wants to be a “bigger company” and is looking into growth opportunities in international markets.
Elsewhere, Serica also recently completed its acquisition of a 30% non-operated interest in the Greater Buchan Area redevelopment from Jersey Oil and Gas.
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