Serica Energy

Serica Energy: Carbon Emissions and Climate Commitments

Serica Energy, a UK-based company operating in the Gas/Diesel Oil industry, has been actively reporting its carbon emissions.

Recent Emissions Data (in kg CO2e):

• 2024: Serica Energy reported a total of approximately 527.5 billion kg CO2e in emissions. This comprised approximately 200.2 billion kg CO2e of Scope 1 emissions and about 30,000 kg CO2e of Scope 2 emissions. Scope 3 emissions were significantly higher, at approximately 5.06 trillion kg CO2e, primarily driven by the use of sold products.
• 2023: Total emissions for 2023 were approximately 360 billion kg CO2e, with Scope 1 emissions at around 179.4 billion kg CO2e and Scope 2 emissions at approximately 43,000 kg CO2e. Scope 3 emissions totalled about 180.5 billion kg CO2e.
• 2022: The company reported total emissions of approximately 265.3 billion kg CO2e, including approximately 218.6 billion kg CO2e of Scope 1 emissions and about 21,000 kg CO2e of Scope 2 emissions. Scope 3 emissions were approximately 46.8 billion kg CO2e.
• 2021: Total emissions were around 208.9 billion kg CO2e, with Scope 1 emissions at approximately 217.3 billion kg CO2e and Scope 2 emissions at about 18,000 kg CO2e. Scope 3 data was not disclosed for this year.
• 2020: Total emissions for 2020 were approximately 204.7 billion kg CO2e, with Scope 1 emissions at around 204.6 billion kg CO2e and Scope 2 emissions at about 16,000 kg CO2e. Scope 3 data was not disclosed.
• 2019: The company reported total emissions of approximately 241.5 billion kg CO2e, with Scope 1 emissions at around 241.5 billion kg CO2e and Scope 2 emissions at about 25,000 kg CO2e. Scope 3 data was not disclosed.

Climate Commitments and Reduction Initiatives:

Serica Energy is committed to reducing its environmental impact and aligns with the emission reduction targets set out in the North Sea Transition Deal. This deal commits the UK oil and gas industry to significant emissions reductions from a 2018 baseline.

• Near-term Targets: Serica Energy is working towards reducing absolute emissions by 10% by 2025, 25% by 2027, and 50% by 2030. By 2025, the company had already achieved a reduction of 31% against the 2018 baseline.
• Long-term Goal: The ultimate aim is to achieve Net Zero emissions by 2050.
• Specific Actions: In 2025, Serica Energy began implementing emissions reduction projects on its Bruce platform, with three projects scheduled for operational status by the end of 2027. In 2026, the company's focus is on implementing Flare Gas Recovery and progressing compressor revamp projects.
• Past Achievements: In 2020, the company achieved a 15% reduction in its total CO2 emissions, partly attributed to a 45% reduction in gas flaring.

Serica Energy's emissions data and reduction targets demonstrate a strategic approach to managing its carbon footprint within the gas and oil sector.