OFAC extends sanction waiver for North Sea Rhum field

Serica Energy Plc has received a renewed licence and secondary sanctions assurance on its Rhum gas-condensate field in the UK central North Sea from the US Office of Foreign Assets Control (OFAC).


This ensures continued provision of goods, services and support from various US-owned or controlled entities, and some non-US entities, beyond the 31st October, when the current licence expires through the 28th February 2021.


Rhum, which is tied back to the Serica-operated Bruce field platform complex, is co-owned by Iranian Oil Company.


The field is thought to supply around 5% of the UK’s daily production.


Source: Offshore Magazine