Serica's Triton FPSO Resume: Overcoming 2024 Production Challenges

Serica Energy announced the phased restart of its Triton FPSO vessel in the North Sea on December 27, with production in 2024 falling short of forecasts. The company faced challenges with a single gas compressor, causing a drop in output. Recovery efforts are underway for a strong 2025.

Serica Energy Ltd resumed operations at its Triton floating production storage and offloading (FPSO) vessel in the North Sea on December 27. This recovery marks the beginning of a phased restart, including both existing and new wells post-maintenance.

CEO Chris Cox acknowledged the company missed its 2024 production target of 35,000 to 36,000 barrels of oil equivalent per day (boepd), with actual figures averaging 34,600 boepd. Production fell due to issues with a single gas compressor on the FPSO vessel.

The performance setback in the latter half of 2024, largely stemming from a reliance on a single gas export compressor and unplanned downtime, is expected to turn around by the first quarter of 2025 with dual compressors scheduled to be operational.

(With inputs from agencies.)