Serica Energy plc has renewed its US licence and secondary sanctions for the North Sea Rhum field to allow companies to provide goods, services and support.
TAILWIND
The licence, shared 50-50 with Iranian Oil Company (UK) Ltd, grants permission to US, US-owned and non-US companies.
Issued by the US Office of Foreign Assets Control (OFAC), the assurances are valid until 31 January 2025 after which Serica may apply for a renewal.
The company said that the extension also satisfied one of the completion conditions required for its planned acquisition of Tailwind Energy Investments Ltd.
“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.