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