(Alliance News) - Serica Energy PLC on Monday said it has received final approval from the UK government's North Sea Transition Authority to develop the Belinda field.

Belinda is the fifth well in Serica's Triton area drilling offering.

Chair & Interim Chief Executive Officer David Latin said: "This will build on our strong track record of delivering growth and adding value through investment in our assets. We have further potential projects in our portfolio which we continue to assess, including the possible re-development of the Kyle field, which could, like Belinda, be another low emissions tie-back candidate to the Triton FPSO."

"The field will be tied back to the Triton [floating production storage and offloading] following the drilling of the development well which is scheduled to take place in the first half of 2025," the oil and gas company added.

"Proven and probable reserves in the Belinda field are estimated at about 5 million barrels of oil equivalent (80% oil). Production is scheduled to commence in 1Q2026 following the tie-back work to the Triton FPSO."

Serica Energy shares were 1.2% higher at 184.10 pence each on Monday morning in London.

By Tom Budszus, Alliance News slot editor

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