LONDON — Serica Energy has completed its acquisition of Tailwind Energy Investments from Tailwind Energy Holdings, adding production around the Triton hub in the UK central North Sea.
The transaction would give the company “better exposure to an oil/gas mix," according to Tony Craven Walker, chairman of Serica. "The combined entity is uniquely placed to prosper as an important contributor to the UK’s energy security in support of energy transition. However, this does require a more considered approach from government to revisit the counter-productive tax levels imposed on the UK oil and gas industry and to structure a predictable and far less damaging tax regime to support the innovation and investment required, particularly in view of currently much reduced oil and gas prices."
Serica’s planned investments in 2023 and 2024 include a second light well intervention vessel campaign on the Bruce Field in the northern UK North Sea and infill wells on the Bittern, Gannet E, Guillemot North West and Evelyn fields inherited from Tailwind.