Serica Energy plc, the independent upstream oil and gas company, announced that it has received final approval from the North Sea Transition Authority (NSTA) to develop the 100%-owned and operated Belinda field.
Reserves in the Belinda field are estimated at about 5 million barrels of oil equivalent.
Serica’s CEO said the firm is looking 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.”
The firm said: “The field will be tied back to the Triton FPSO following the drilling of the development well which is scheduled to take place in the first half of 2025.
“The Belinda well is the 5th well in Serica’s Triton area drilling campaign, which commenced in April this year using the COSLInnovator drilling rig.
“All these wells are designed to enhance production via the Triton FPSO.
“Proven and probable reserves in the Belinda field are estimated at about 5 million barrels of oil equivalent (80% oil).
“Production is scheduled to commence in 1Q 2026 following the tie-back work to the Triton FPSO.”
Serica chairman and interim CEO David Latin said: “We are delighted to have received approval to develop Belinda.
“This will build on our strong track record of delivering growth and adding value through investment in our 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.
“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.”