Oil company Serinus Energy has released its financial results for 2024, highlighting a decline in revenues to $15.4 million and cash generated from operations to $1.1 million compared to the previous year.
The company faced challenges with a significant impairment of its Romanian assets and a decline in net operating profit due to lower production and commodity prices.
On the operational front, Serinus successfully completed the refurbishment of its Tunisia operations and maintained a high level of safety.
The Company continues to focus on improving production from its Tunisian assets, in particular the under-developed Sabria field, and plans to continue exploration in Romania.
Serinus Energy plc is an international oil and gas exploration, appraisal and development company operating primarily in Tunisia and Romania.
The Company is focused on upstream activities, managing assets such as the Moftinu gas project in Romania and the Sabria and Chouech Es Saida fields in Tunisia.
Serinus aims to increase production through active reservoir management and strategic investments in its existing projects.
