Serica Energy spuds North Eigg exploration well in North Sea

Serica Energy announced the spudding of the North Eigg high-pressure, high-temperature (HPHT) exploration well in the North Sea. Well 3/24c-NE1 was spudded on 11 July by the Transocean Paul B. Loyd Jr., a harsh-environment semisubmersible.

If the well is successful, Serica said it anticipates the reservoir will be gas filled and will be capable of providing low-emissions gas to the UK domestic market during the key energy transition years of 2025 to 2035. It is anticipated that a discovery at North Eigg would be developed utilizing Serica’s nearby 98% owned and operated infrastructure on the Bruce platform.

Serica’s internal estimates indicate prospective resources of 60 million BOE.

“This is an exciting exploration prospect located very close to Serica owned and operated infrastructure. In a success case, this means that any development could utilize the existing production facilities on the Bruce platform, thereby reducing the need for extensive investment in new facilities and reducing the carbon footprint of the development and subsequent production period,” said Mitch Flegg, CEO of Serica Energy.