Serica Energy aiming to assess potential Wagtail tieback to North Sea Triton FPSO

Serica Energy has agreed to acquire 40% of Finder Energy’s 60% operated interest in the P2530 license in the UK central North Sea for an initial sum of about $650,000, according to a Nov. 4 Serica news release.

Dana Petroleum holds the remaining 40% in the license, which contains the Wagtail oil discovery and the Marsh and Bancroft exploration prospects.

Wagtail is northwest of the Dana Petroleum-operated Triton FPSO, in which Serica is also a partner, using the platform to host various operated satellite tiebacks.

Recently, the UK’s North Sea Transition Authority agreed to extend the license’s current phase to the end of August 2026. During this period, the partners plan development engineering feasibility studies to assess a potential connection of Wagtail to the FPSO as well as the economics of the project.

Thereafter, the co-venturers will determine whether to enter the next license phase and commit to drill an appraisal well, or relinquish the license with no further commitments by the current termination date.