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Serica Energy PLC on Tuesday said it reached an agreement with Finder Energy Holdings Ltd to obtain a 40% interest in P2530, a North Sea licence. The North Sea-focused oil and gas producer Serica said it paid an initial consideration of approximately £500,000. The licence is currently held by Finder, which has a 60% operated interest, and Dana Petroleum, which has a 40% interest. Serica said the completion of the farm-in is subject to the North Sea Transition Authority’s approval and other required consents. P2530 contains the Wagtail oil discovery, situated north-west of the Triton FPSO, and the low-risk Marsh and Bancroft exploration prospects. Serica said the addition of the stake in Wagtail adds approximately 8 million barrels of net 2C contingent resources to the company’s portfolio. The NSTA has recently agreed an extension to the current licence phase to August 31, 2026. During the extension period, development engineering feasibility studies will be carried out to confirm Wagtail’s potential integration into the Triton FPSO. Serica said the P2530 joint venture ‘will then be in a position to decide whether to move onto the next licence phase and commit to drill an appraisal well, or relinquish the licence with no further commitments by the extension date.’ Shares in Serica fell 0.7% to 217.50 pence a share on Tuesday morning in London. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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