AIM-listed Serica Energy has announced that the OFAC License and secondary sanctions assurance relating to the Rhum field (SQZ: 50%) have been extended by two months to 31 March 2025. This extension is to allow the processing of the Company's application for a new long-term license to be completed following the transition in US Administrations.
The License and assurance permit certain U.S. and U.S.-owned or controlled entities, and all non-U.S. entities, to continue providing goods, services and support to the Rhum field.
The Rhum field has benefited from an OFAC License continuously since 2013.
Source: Serica Energy
