Energy

Serica Energy Releases 2024 Financial Results, Outlines 2025 Production Strategy

Tue 01 Apr 25, 07:10 AM | Team Kalkine

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Serica Energy plc (LSE:SQZ) has released its audited financial results for the year ended December 31, 2024, alongside updates on production, drilling, and its strategic outlook for 2025.

Serica reported an average production of 34,600 barrels of oil equivalent per day (boepd) in 2024, a decrease from 40,100 boepd in 2023, primarily due to unscheduled downtime at the Triton Floating Production Storage and Offloading (FPSO) unit.

In Q1 2025, production fell further to 27,600 boepd following a shutdown of the Triton FPSO in February and March. However, in collaboration with operator Dana Petroleum, Serica and its Triton joint venture partners have integrated the summer maintenance period into the current shutdown to enhance uptime for the remainder of the year.

Production from Triton is expected to resume in June 2025, with no further planned shutdowns for the rest of the year.

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