Serica Energy’s Bruce oil rig and the neighbouring Keith and Rhum fields will be out of action for two months after the company found a break in a disused chamber.
The chamber or “caisson”, which was previously used to return water to the sea after it had cooled generators and other equipment, was found to have broken below the waterline during an inspection. The chamber has not been used since 2009.
Shares in Serica fell by more than 7% before recovering to just over 120p after the news emerged this morning.
The two parts of the chamber are still intact but production on the platform has been halted while engineers assess the problem. Oil from the Keith and Rhum fields would usually flow through the Bruce rig and so their production has also been suspended.
Chief executive Mitch Flegg said: “Although this is a frustrating event, our skilled offshore team have reacted very efficiently. The underwater investigation quickly determined the cause of the problem and a solution is being planned to allow the resumption of full production.”
Serica said that the financial impact of the shutdown would be mitigated by the arrangements it put in place when it bought the Bruce, Keith and Rhum from BP in 2018. It added that production at its Erskine field was unaffected.
