Serica Energy Plc (LON:SQZ)


Serica is a British autonomous upstream oil and gas organization with tasks focused on the UK North Sea with a full scope of investigation, improvement, and resource creation. The company has exploration and advancement exercises in the United Kingdom, Ireland, Namibia, and Morocco and a financial interest in an oilfield seaward Norway. The company's fragments incorporate UK, Ireland, and Africa. It holds licenses in the Central North Sea and the East Irish Sea, including the Columbus Field. It has Frontier Exploration Licenses for Muckish, Aghla, and Derryveagh, and Liffey and Boyne Prospects. Likewise, the Company holds interest in Blocks 113/26b and 113/27c, including the Doyle prospect. It has revenue in Block 113/22a, which Zennor North Sea Limited works. The company is interested in a Petroleum Agreement covering Blocks 2512A, 2513A, 2513B, and 2612A in the Luderitz Basin, seaward Namibia, in association with different organizations. The company has a working interest in the Sidi Moussa permit. The company has a financial interest in the likely improvement of the Vette field.

Serica was incorporated in 2004 and has been an active discoverer, engineer, and maker of oil and gas fields in the UK and throughout the globe. As of late, Serica has moved its concentration to creation in the UK North Sea, at first procuring an 18% offer in the Erskine field in 2015. The inspected reserves, net to Serica, were 3.6 mmboe, as of the effective date of 1 January 2014. Following six years of creation, where Serica delivered over 3.5mmboe, the leftover stores on 1 January 2020 remained at more than four mmboe. This expansion available for later shows what has been accomplished through the close coordinated effort of the Erskine organization and putting resources into the framework necessary to develop creation uptime further. Serica's methodology has been to contribute where it sees it can add esteem. This is valid for the Bruce, Keith, and Rhum (BKR) securing, finished in November 2018.

Serica turned into the operator of the resources, which empowered its staff and the executives to apply the control and focus needed to improve on measures, increment creation uptime, diminish costs, thus broaden the existence of the Bruce offices existence BKR fields that tie into Bruce. The innovative deal was organised to impart dangers and compensations to the vendors through a benefit-sharing understanding, which boosted all gatherings to succeed and diminished the need for the obligation. The obtaining empowered Serica to develop its operational skill, focus on working the BKR resources, and broad set to develop as an association to take on and work on more worked resources. Serica has more than 150 staff, situated in the Aberdeen operational focus, seaward on the Bruce stage, and in the London corporate central command. Toward the beginning of 2021, Serica had over £90 million in cash, no-obligation, and restricted decommissioning liabilities.

Contact Information

company address Serica Energy Plc 52 George Street W1U 7EA United Kingdom

company phone+44.20.74877300

company website

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