Serica Hires UK Non-Execs

London-listed Serica Energy – the small producer acquiring interests in the UK North Sea gas fields Bruce, Keith and Rhum (BKR) – has announced two non-executive appointments to its board.

They are Trevor Garlick (aged 61), who was regional president of BP in UK/Norway from 2010 to 2016, and Malcolm Webb (69), who from 2004 to 2015 was CEO of the UK upstream industry association, Oil & Gas UK – the latter having been chaired by Garlick from 2014 to 2016. 

Serica also released a supplementary admission document, relating to its takeover of BKR asset stakes from BP, Total, BHP and Marubeni which, among other things, said that net production from the BKR interests to be acquired has averaged over 23,000 barrels of oil equivalent per day (boe/d) so far in 2018. The two non-exec appointments will be effective once the acquisition is completed. Three weeks ago Serica was granted a US waiver to enable it to operate Rhum with Iranian state entity, NIOC, as its 50% partner, despite current US sanctions against Tehran.

Serica's CEO Mitch Flegg also noted that the Erskine gas field, also in the UK North Sea, "resumed in late October and the pipeline bypass is now fully commissioned. Serica's net production from Erskine in November to date has averaged over 3,400 boe/d".