Serica evaluating US sanctions on Iran
US decision to exit Iran nuclear deal could have implications at North Sea field
London-listed company Serica Energy says it is evaluating what implications US President Donald Trump’s decision to walk away from a nuclear deal with Iran will have on operations at the Rhum field off the UK, where Serica is set to take operatorship.
Trump said Tuesday the US was reimposing sanctions on Iran and pulling out of an international nuclear deal that was agreed in late 2015.
This could carry implications for Serica, which is set to become operator of the Rhum field in partnership with the Iranian Oil Company (IOC).
“Serica Energy notes the statements made yesterday evening by President Trump in relation to Iran,” Serica said in a statement on Wednesday.
“The company is evaluating the implications of these statements and how they relate to the Rhum field in which the Iranian Oil Company (UK) Limited is a 50% partner. We will update the market, as appropriate, in due course.”
Serica is set to acquire operatorship of the Rhum field under a deal inked with BP last year, due for completion in the third quarter, that also saw it take the UK supermajor’s stakes in the Bruce and Keith fields.
The acquisition saw then non-executive director Jeffery Harris step down from the board as, being from the US, he was subject to US restrictions in relation to Iran.
