Serica Energy to acquire a 32% stake in UK North Sea assets from BP for $232m.

Serica Energy, a company specialising in upstream oil and gas operations, agreed to acquire a 32% stake in UK North Sea assets from BP, a British multinational oil and gas company, for $232m. “Should this transaction complete, it would deliver a step-change for Serica, adding material production and cash flows from the largest producing gas field in the UK. Culzean is a world-class asset, delivering gas from a modern platform with exceptionally high uptime and low emissions,” Chris Cox, Serica CEO.