Finance
UK's Serica Energy cuts annual production outlook, shares drop
Published by Global Banking & Finance Review®
Posted on September 10, 2025
2 min readLast updated: January 22, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on September 10, 2025
2 min readLast updated: January 22, 2026
Serica Energy has lowered its 2025 production forecast due to issues with the Triton vessel, causing shares to drop by 14%. Normal operations are expected to resume by the end of September.
(Reuters) - Britain's Serica Energy cut its 2025 production outlook on Wednesday, after a hit from a temporary slowdown in output at the Triton floating production storage and offloading vessel, sending its shares down nearly 14%.
Serica said production from the Triton vessel has been curtailed due to "vibration issues in the compression trains," adding that normal operations are expected to resume around the end of September once repairs are completed.
The oil and gas producer now expects annual production of 29,000–32,000 barrels of oil equivalent per day, down from its previous projection of 33,000-35,000 boepd.
It said production from Triton had reached over 25,000 boepd in August, while it works to ramp up production.
In January, Serica had reported that the Triton vessel resumed production towards the end of last year, following an issue with a single gas compressor in late October.
Jefferies analysts said the troubles at the Triton vessel were "negative but manageable," with no material financial impact, but "operational consistency must be achieved" at Triton.
The production setbacks come amid a volatile oil market, with prices pressured by slowing demand in major economies and ongoing geopolitical uncertainties.
Serica also said that pipeline work on the Bittern field, which is scheduled for November and will last for about three weeks, would temporarily halt production from the company's wholly owned Evelyn and Gannet fields.
(Reporting by Ankita Bora in Bengaluru; Editing by Rashmi Aich and Mrigank Dhaniwala)
Serica Energy cut its 2025 production outlook due to a temporary slowdown in output at the Triton floating production storage and offloading vessel caused by vibration issues.
The oil and gas producer now expects annual production of 29,000–32,000 barrels of oil equivalent per day, down from the previous projection of 33,000-35,000 boepd.
Jefferies analysts described the troubles at the Triton vessel as 'negative but manageable,' noting that there was no material financial impact but emphasizing the need for operational consistency.
The production setbacks for Serica Energy come amid a volatile oil market, where prices are pressured by slowing demand in major economies and ongoing geopolitical uncertainties.
Serica announced that pipeline work on the Bittern field, scheduled for November and lasting about three weeks, will temporarily halt production from the company's wholly owned Evelyn field.
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