Serica Energy

Serica Energy, a UK-headquartered Gas/Diesel Oil company, reported approximately 5.42 billion kg CO2e in total emissions for 2024. This includes about 200.22 million kg CO2e from Scope 1, 30,000 kg CO2e from Scope 2 (location-based), and approximately 5.22 billion kg CO2e from Scope 3 emissions. Key Scope 3 contributors in 2024 were the use of sold products (about 5.06 billion kg CO2e) and investments (about 133.70 million kg CO2e).

In 2023, Serica Energy's total emissions were approximately 359.97 million kg CO2e, comprising around 179.45 million kg CO2e from Scope 1, 43,000 kg CO2e from Scope 2 (location-based), and approximately 180.53 million kg CO2e from Scope 3.

Serica Energy is committed to significant emissions reductions, aligning with the North Sea Transition Deal. This commitment targets a 10% reduction in absolute basin emissions by 2025, 25% by 2027, and 50% by 2030, all from a 2018 baseline. The company also aims to achieve Net Zero by 2050 for Scope 1 emissions, as outlined in their 2023 ESG Report. As of 2027, Serica Energy aims for a 31% reduction against its 2018 baseline for all scopes. Earlier, in 2020, the company achieved a 15% reduction in total Scope 1 and Scope 2 CO2 emissions compared to 2019, partly due to a 45% reduction in gas flaring. The company has begun implementing emissions reduction projects on its Bruce platform, with three projects expected to be operational by the end of 2027. In 2026, their focus is on Flare Gas Recovery and compressor revamp projects.