Serica Energy has called on the UK government to prioritize domestic oil and gas production in the North Sea amid ongoing supply disruptions in the Strait of Hormuz. The company reported a decline in revenue and production due to maintenance work, averaging 27,600 barrels of oil per day, down from 34,600 boepd the previous year. Serica also emphasized the need for new exploration licenses and changes to the Energy Profits Levy to enhance investment in the sector.
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