Serica's unique skillset allows us to identify and target opportunities where we can add value
Serica is an established North Sea operator and has the skill and expertise to manage wells, platforms, pipelines and oil and gas fields to improve their performance. The Serica staff and contractors on the Bruce platform and in the Aberdeen operational base ensure the smooth running of the Bruce facilities, optimising production from the Bruce, Keith and Rhum fields.
Serica has a robust balance sheet and sees itself as the operator of choice to take on assets that would benefit from the simplification and focus it has demonstrated on the BKR assets. Serica will use its technical, engineering and commercial expertise to identify areas that have been previously overlooked and use creative deal structures that unlock the buyer and seller valuation impasse that often prevents deals completing.
Serica will protect the value of its existing assets by keeping costs low and production steady, looking for ways to enhance production and increase value. The Bruce hub is open for business and we are looking for ways to extend its life and fully utilise its capabilities by tying in nearby assets, reducing the need to build new facilities or export routes and so reduce the environmental impact.
Serica continues to explore and develop to grow the business, progressing strategic projects such as Columbus and North Eigg and looking for more opportunities that make sense to the business.
We will continue to seek acquisition opportunities to build upon the solid base we have established but we will do so with risk and shareholder value firmly in mind. Our business model seeks to combine corporate capabilities and strengths with others to add value, blending Serica’s low cost base, flexibility and operating capabilities with assets which no longer fit the objectives of others.