Serica Energy plc has renewed its licence and sanctions for the North Sea Rhum field, so allowing American, American-owned and non-American companies to continue providing goods, services and support.
OFAC
The company operates the licence which it shares 50-50 with Iranian Oil Company (UK) Ltd.
Licence and secondary sanctions assurance were from the US Office of Foreign Assets Control (OFAC) and are now valid until 31 January 2025 after which Serica may submit another application for a renewal.
The company said that the extension enabled operations and production from the Rhum field to continue unaffected and also satisfies one of the completion conditions required for Serica’s planned acquisition of Tailwind Energy Investments Ltd.
SUPPORT
“Once again we have secured a prompt renewal of the OFAC licence for a period of a further two years,” added chief executive Mitch Flegg.
“We are grateful to the UK government and regulatory authorities who have supported us in this process.
Serica also operates the producing Bruce and Keith fields in the UK Northern North Sea, and the producing Columbus field in the UK Central North Sea.
The company additionally holds a non-operated interest in the producing Erskine field in the UK Central North Sea.