Smalltime oil industry player Serica Energy eyes BP's North Sea assets

Alys Key
Follow Alys
Oil Prices Rise As BP Shuts Pipeline
Serica previously acquired BP's stake in the Erskine oil field (Source: Getty)

A relatively small player in the oil industry is scoping out BP’s assets in the North Sea as part of plans for a potential buying spree in the area.

Serica previously bought up BP’s share of the Erskine oil field but is now looking to acquire more of their assets, The Telegraph reported this weekend.

The company’s full-year results last week showed group profit of $10.8m (£8.73m), up from $6.5m (£5.25m) partly due to the Erskine well.

The directors said: “Erskine is delivering a strong cashflow for Serica, and we are actively looking at options for developing Columbus, together with broader opportunities in the North Sea to diversify our revenues and risk."

Related articles