November 2019

Nimble, focused, bold – we believe small and mid-cap companies of the future will not sit back and rely on inherited approaches to asset management. The leaders in the sector will be action takers, blending the latest in technical innovation with people power.

By paving the way with technology, processes will be simplified – smaller portfolios will be streamlined to optimise efficiency. And in the driving seat? A focused team giving complete attention to a smaller number of assets. The decision making and approval processes will be shorter and more direct, increasing responsiveness in a rapidly evolving world – particularly central to excelling in the North Sea. This approach benefits all stakeholders and results in a skilled, adaptable and highly motivated workforce.

Serica are already delivering tangible results with this forward-looking approach. In September we announced a successful field trial of technical innovation that increased daily gas production at the Bruce field by around 15%.

ESG will become increasingly central as it shapes business decisions. Serica is a signatory of Oil & Gas UK's ‘Vision 2035', an industry initiative to encourage discussion, debate and action in support of Energy Transition. With over 80% of our production being natural gas, we are committed to playing a role in the longer-term solution for clean energy.

Innovation will increasingly become second nature, meaning new procedures can be designed, agreed and quickly implemented to address asset-specific challenges. This is Serica’s ambition – to lead the way as a nimble operator, bringing fresh thinking to every asset.

Hear more from Mitch Flegg, speaking at the 2019 World Energy Capital Assembly and on the panel “Riding the Wave of New Activity in the North Sea“.