Serica Energy plc chief financial officer Andy Bell will leave in the new year after nearly 20 years with the company. His replacement will be Martin Copeland. Mr Bell was initially a consultant to Serica and, since the Bruce, Keith and Rhum acquisitions, has been vice president finance and in September 2021 CFO. “The board […]
Tag: Serica Energy plc
Serica Energy looks to redevelop Kyle oil field
Serica Energy plc has been awarded 100% of block 29/2a, containing the decommissioned Kyle oil field, in the UKCS 33rd offshore licensing round. STUDIES The North Sea Transition Authority made the award to the company’s subsidiary Tailwind Energy Chinook Ltd, subject to licence documentation. Serica said its internal preliminary mid-case estimate of recoverable resources after […]
Serica Energy publishes fourth annual ESG report
Serica Energy plc has published its 2022 environment, social and governance report, entitled ‘A People-led Approach’. COMPLIANCE The company’s fourth such report looks at emissions reductions, waste disposal, safety, training, charitable donations, and board level responsibilities with code of conduct training and an ESG policy and strategy. During 2022, Serica further increased its alignment to […]
Serica Energy’s profits boosted by investment in North Sea assets
Serica Energy plc said increased production from 2021 investment and higher gas prices had resulted in higher profits from its offshore oil and gas operations in the North Sea. FINANCES For the year ended 2022, the company generated profit before tax of £488.2 million for 2022 (2021: £135.1m). After current and deferred tax provisions of […]
Serica chairman Tony Craven Walker to stand down
Serica Energy plc’s chairman Tony Craven Walker will after 18 years’ service stand down from his post and the board at the end of the company’s general meeting in June. The announcement, made in Serica’s results for the year ended 2022, added that his successor will be David Latin who was recently appointed board non-executive […]
Serica reserves rise from Triton and Bruce
Serica Energy plc announced an increase in oil and gas reserves based on independent estimates for the company and its acquisition Tailwind. FACTORS As at 31 December 2022, pro-forma proved plus probable (2P) reserves had risen to 130.4 mmboe compared with 104.0 mmboe on 31 December 2021. The company said that the net increase was […]