LONDON (ShareCast) - (Sharecast News) - Serica Energy said on Tuesday that production from the Triton floating production, storage and offloading vessel (FPSO) had returned to more than 25,000 barrels of oil equivalent per day net to the company, following a temporary suspension earlier this month caused by a flare system issue.
The AIM-traded firm said output resumed at a limited rate shortly after the initial disruption and has since been gradually ramped up by the field's operator, Dana Petroleum.

On 8 October, Serica reported that production from the Triton FPSO had been halted on 30 September due to a flare system fault.

At the time, the operator indicated that restart rates would be "severely limited" until the root cause was identified and resolved, prompting Serica to warn that annual production would fall below its previously guided range of 29,000 to 32,000 equivalent daily barrels.

That announcement followed earlier maintenance work in September to address a vibration issue in the FPSO's compression trains.

Repairs to the A compressor were completed on 23 September, allowing Serica to deliver around 25,000 barrels of oil equivalent per day before the subsequent flare system problem forced another shutdown.

At the time, chief executive Chris Cox said the company found it "incredibly frustrating to once again be reporting on a non-operated asset that should be performing better than it is," adding that Serica was stepping up talks with Dana Petroleum "regarding the future running of the Triton FPSO, aiming to deliver a more robust performance for all stakeholders".

Serica said production had now recovered in line with expectations, and would continue to be monitored closely.

At 1340 BST, shares in Serica Energy were up 5.17% at 187.2p.

Reporting by Josh White for Sharecast.com.

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