SERICA ENERGY PLC

Earnings Release • Jun 30, 2025

National Storage Mechanism | Additional information

RNS Number : 8632O

Serica Energy PLC

30 June 2025

30 June 2025

Serica Energy plc

('Serica' or 'the Company')

Resumption of production operations at Triton FPSO

Serica Energy plc (AIM: SQZ) announces that, having already completed repairs, scheduled maintenance work at the Triton FPSO has now also been completed and the process to restart production operations is underway.

Production will commence shortly and ramp up as each field tied back to the Triton FPSO is brought back onstream following the normal post maintenance start-up schedule, with a stable production level expected to be reached during July.

The Triton FPSO was delivering 25,000 boepd net to Serica immediately prior to the shutdown. This figure has the potential to be boosted through the addition of production from two new wells, both of which were delivered on schedule and under budget during the Triton downtime, the W7z well on the Guillemot North West field (Serica: 10%) and the EV02 well on the Evelyn field (Serica: 100%).

During the shutdown, extensive repairs to the inert gas marine system were completed, with over 100 components on the system either replaced or refurbished. Topside modifications were made in readiness to accept the start of production from the Belinda field expected in early 2026, significant safety critical maintenance work was also undertaken on the firewater system, and valves and sections of pipework across the FPSO were replaced. With work now complete, the normal start-up sequence has begun.

The work done is expected to improve operational performance of the Triton FPSO significantly going forward, and there are no further planned outages for the Triton FPSO in 2025.

The technical information contained in the announcement has been reviewed and approved by Fergus Jenkins, VP Technical at Serica Energy plc. Mr. Jenkins (MEng in Petroleum Engineering from Heriot-Watt University, Edinburgh) is a Chartered Engineer with over 25 years of experience in oil & gas exploration, development and production and is a member of the Institute of Materials, Minerals and Mining (IOM3) and the Society of Petroleum Engineers (SPE).

This announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

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Enquiries:

Serica Energy plc	+44 (0)20 7487 7300
Martin Copeland (CFO) / Andrew Benbow (Group Investor Relations Manager)
Peel Hunt (Nomad & Joint Broker)	+44 (0)20 7418 8900
Richard Crichton / David McKeown / Emily Bhasin
Jefferies (Joint Broker)	+44 (0)20 7029 8000
Sam Barnett
Vigo Consulting (PR Advisor)	+44 (0)20 7390 0230
Patrick d'Ancona / Finlay Thomson	serica@vigoconsulting.com

NOTES TO EDITORS

Serica Energy is a British independent oil and gas exploration and production company with a portfolio of UKCS assets. Serica has a balance of gas and oil production. The Company is responsible for about 5% of the natural gas produced in the UK, a key element in the UK's energy transition.

Serica's producing assets are focused around two main hubs: the Bruce, Keith and Rhum fields in the UK Northern North Sea, which it operates, and a mix of operated and non-operated fields tied back to the Triton FPSO. Serica also has operated interests in the producing Columbus (UK Central North Sea) and Orlando (UK Northern North Sea) fields and a non-operated interest in the producing Erskine field in the UK Central North Sea.

Serica has a two-pronged strategy for growth comprising investment in its existing portfolio and M&A. Further information on the Company can be found at  www.serica-energy.com . The Company's shares are traded on the AIM market of the London Stock Exchange under the ticker SQZ. To receive news releases via email, please subscribe via the Company website.

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