Serica Energy plc announced the start of production from the Rhum R3 gas well some 16 years after it was originally drilled in the North Sea.
OPTIMISATION
The independent upstream oil and gas company has more than 80% natural gas production and holds a 50% working interest in the Rhum field.
First production was achieved on 23 August and work has since continued to optimise production rates from the Bruce, Keith and Rhum fields.
“In the last seven days, gross Rhum production has averaged over 190mmcsf/d of gas and 1,400bbl/d of condensate,” said the company.
“This equates to an average gross production in excess of 34,000boe/d for the Rhum field.
“This compares to a maximum rate of 26,000boe/d immediately prior to the commencement of R3 production.”
COLUMBUS
Serica will optimise and stabilise production and, if necessary, update its production guidance.
The company’s next project will be Columbus where Serica expects first production in Q4 this year.
CHALLENGES
“I would like to congratulate everyone in the company for the incredible achievements required to overcome the technical challenges involved in establishing first production from this well some 16 years after it was originally drilled,” said chief executive Mitch Flegg.
“Despite the challenges we faced, the additional production and accelerated cash flows will lead to a rapid payback on the capital invested, particularly as we are immediately benefiting from the current high gas prices.
“Not only will this well enable enhanced production rates from the field, but it will also provide redundancy to help maintain future production.”