UK-based oil firm Serica Energy has suspended the production from its Triton floating production, storage, and offloading (FPSO) unit in the North Sea after identifying an issue with one of the compressors seals, prompting the company to further reduce its full-year production outlook.
The company identified an issue with Triton FPSO’s equipment following a week of the limited resumption of production from the vessel.
Serica Energy said it expects its production for 2024 to be approximately 35,000 to 36,000 boepd, which is lower than 37,000 boepd forecast the company announced in November, which itself was reduced from the previously forecast range of 41,000-46,000 boepd.
The FPSO operator, Dana Petroleum, is working to identify and execute the necessary repairs, which are expected to take two to four weeks to complete, according to Serica Energy.
As previously stated, the operational vulnerability will remain until the ongoing works to restore two-compressor operations are completed, expected in the first quarter of 2025, Serica Energy said.
With production at Triton suspended, current Serica production from the Bruce Hub and other assets totals around 28,000 boepd. Of this, around 22,000 boepd of production is gas, benefitting from the current gas price of around 115-120p/therm.
To remind, Serica Energy first reported a problem with the single gas compressor of the Triton FPSO late in October 2024.
