Serica’s North Sea deal with BP will survive Trump’s Iran sanctions move, analyst says

Serica Energy’s acquisition of stakes in a North Sea field co-owned by Iran is likely to go ahead despite the US’s withdrawal from an international pact, an analyst has said.

Ashley Kelty, research analyst at Cantor Fitzgerald, said Serica would probably try to get a US Treasury waiver to smooth the sale of gas from the Rhum field.

But Serica’s shares did sink yesterday after the firm said it was “evaluating the implications” of US President Donald Trump’s decision re-impose sanctions on Iran.

London-headquartered Serica added it would update the market “in due course”.

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