Serica factors ESG into North Sea M&A ambitions
The firm has added environmental footprint into its criteria when assessing potential buys
“The market is changing. There are things that we could have bought but we are very aware of our position in the industry going forward and our commitment to ESG.” So says Mitch Flegg, CEO of UK independent Serica Energy, explaining one of the key factors in why his firm has continued to sit out the North Sea’s dealmaking flurry. “We are looking at a number of opportunities at the moment,” says Flegg. “We will continue to work hard on that.” But Serica has added criteria on the relative environmental friendliness of any potential purchases to its continuing focus on getting the right assets at the right price. “We are looking to find the right assets where we can add value but where those as

Also in this section
23 May 2025
LNG projects need the certainty of long-term contracts, but Henry-Hub–linked deals put buyers at significant risk
22 May 2025
Industry says compliance is near-impossible and have called for more clarity to prevent cargoes being redirected
22 May 2025
The next energy crisis could come from the severing of the link between oil and gas prices, with potentially severe economic consequences
22 May 2025
With contract awards looming on the Kuwait-Saudi backed Dorra field, the long-stalled gas project appears finally to be gaining traction—despite Iranian objections