North Sea—life in the old dog

There's still plenty more value to be eked out of the maturing basin, according to one of the region's most experienced operators

Serica Energy wasn't a name on many people's lips until last November, when the UK-based minnow revealed a deal to acquire a cluster of BP's North Sea assets. The proposed purchase of controlling interests in the Bruce, Keith and Rhum (BKR) fields would turn the company into a significant regional player at a stroke—but this isn't a role that daunts Tony Craven Walker, Serica's co-founder and executive chairman, who has done it all before. Craven Walker's involvement with the region's oil and gas industry dates back to the 1970s, when he worked for BP and the North Sea's glory days still lay ahead. Since then, he has been a prominent figure in the independent oil sector, founding Charterhous