Serica sanguine on sanctions
The firm's historic links to Iran are in the spotlight as US sanctions resume
Serica Energy is one of the firms seemingly punching above its weight in the North Sea as it seeks to acquire BP's stakes in the mature Bruce, Keith and Rhum (BKR) fields development. The acquisition would give it operatorship of a 5% share of UK gas production. Serica's chief executive, Mitch Flegg, told Petroleum Economist the company's agility as a smaller player with a tight focus on just a handful of assets gives it an advantage. It can delay cessation of production longer than would have been possible under the operatorship of BP, which has bigger fish to fry elsewhere. The snag is that a subsidiary of the National Iranian Oil Company owns a 50% stake in the Rhum field, which means tha
Also in this section
29 January 2026
Caught between LNG risks from across the Atlantic and the wounds from Russian gas dependence, Europe needs more than a simple diversification strategy
28 January 2026
The alliance looks to bolster market management credibility by bringing greater clarity and unity to output cuts and producer capacity later in 2026
23 January 2026
A strategic pivot away from Russian crude in recent weeks tees up the possibility of improved US-India trade relations
23 January 2026
The signing of a deal with a TotalEnergies-led consortium to explore for gas in a block adjoining Israel’s maritime area may breathe new life into the country’s gas ambitions
