April 23, 2020 / 9:07 AM / a month ago

Serica to maintain dividend, sees drilling delays

LONDON, April 23 (Reuters) - Serica Energy intends to maintain its dividend in 2020, its CEO said on Thursday after the North Sea energy producer announced its first-ever payout following a rise in 2019 profit.

CEO Mitch Flegg said, however, that Serica’s 2020 drilling programme is under review due to coronavirus-related movement restrictions and supply chain difficulties.

As a result, Flegg said its planned Columbus field development will likely be pushed into next year, while Rhum 3 well drilling remains on track to start at the end of 2020.

Reporting by Ron Bousso; editing by Jason Neely

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