(MENAFN) The U.S. Treasury has prolonged a license for Serica Energy to function the Rhum gas sector in the North Sea which is half possessed by National Iranian Oil Company (NIOC), Serica declared in an announcement.
The two-year deal by the U.S. Office of Foreign Assets Control (OFAC) permits firms including oilfield facilties suppliers to work on the sector in spite of the National Iranian Oil Company being aimed at by U.S. restrictions.
A one-year deal was first obtained in October 5 years ago (2018) following the implement of restrictions by U.S. leader Donald Trump on the Islamic Republic after pulling out of an international nuclear agreement. The deal was prolonged in October 3 years ago for an additional two-year time span.
Rhum was the third biggest gas-producing sector in the British North Sea in the second quarter period of 2019, Serica chief executive Mitch Flegg stated.
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