Climate Change Data

Serica Energy plc

Climate Impact & Sustainability Data (2019, 2020, 2021, 2022, 2023)

Reporting Period: 2019

Environmental Metrics

Total Carbon Emissions:241503.41 tCO2e/year (EU-ETS)
Total Energy Consumption:3,366 TJ/year (fuel gas)
Carbon Intensity:18 kt/million barrels in 2019

ESG Focus Areas

  • Climate Action
  • Responsible Consumption and Production
  • Life Below Water
  • No Poverty, Zero Hunger
  • Gender Equality & Reduced Inequalities
  • Decent Work and Economic Growth
  • Quality Education
  • Innovation & Infrastructure
  • Peace, Justice and Strong Institutions
  • Partnerships to Achieve Goals

Environmental Achievements

  • Achieved a carbon intensity figure of 18 kt/million barrels in 2019, below the North Sea average of 21 kt/million barrels in 2018.
  • 55% of Serica's produced waste was recycled in 2019.
  • Average OiW discharge concentrations of <11 mg/l achieved during an extended period of maintenance on the Bruce PWRI system.

Social Achievements

  • Raised over £7,500 for CLAN Cancer Support.
  • Donated £10,000 to the Trussell Trust for food banks during the COVID-19 pandemic.
  • Improved maternity, paternity, adoption and special leave policies.

Governance Achievements

  • Implemented a Code of Business Conduct.
  • Published a Modern Slavery Act 2015 statement.
  • Established anti-bribery & corruption policy and training.

Climate Goals & Targets

Long-term Goals:
  • Contribute to a net zero carbon North Sea basin by 2035.
Medium-term Goals:
  • Audit energy usage offshore and target innovations to reduce consumption.
  • Assess the potential use of BKR infrastructure for carbon transportation and storage.
Short-term Goals:
  • Reduce landfill volumes significantly by partnering with waste management contractors.

Environmental Challenges

  • Reducing GHG emissions from fuel gas combustion, diesel, and flaring.
  • Managing physical and regulatory risks associated with climate change.
  • Gender imbalance in the workforce.
Mitigation Strategies
  • Actively monitoring industry developments and supporting the industry's Vision 2035 Net Zero initiative.
  • Aligning with internationally recognised reporting initiatives.
  • Implementing an Operating Management System (OMS) for compliance.
  • Developing a strategy to enhance efficiency and reduce emissions.
  • Improving recruitment strategies to increase female representation.

Supply Chain Management

Responsible Procurement
  • Terms and Conditions covering Safe Performance at Work, Compliance with Safety Regulations, Environmental Considerations, the Modern Slavery Act, Business Ethics, Anti Bribery and Corruption.
  • Supplier Pre-Qualification Questionnaire for moderate risk contracts.
  • Pre-contract and post-contract award assurance for high-risk contracts.

Climate-Related Risks & Opportunities

Physical Risks
  • Decrease in value and demand for products as the global economy decarbonises.
Transition Risks
  • Increased cost of permitting emissions.
  • Drive to reduce GHG emissions at various levels.
Opportunities
  • Potential for CO2 storage in Bruce and Rhum fields.

Reporting Standards

Frameworks Used: GRI Core Option, UN Sustainable Development Goals, SASB: Oil and Gas Exploration and Production Standard

UN Sustainable Development Goals

  • SDG 1
  • SDG 4
  • SDG 5
  • SDG 8
  • SDG 9
  • SDG 10
  • SDG 12
  • SDG 13
  • SDG 14
  • SDG 16
  • SDG 17

Serica's activities are framed within the context of the UN Sustainable Development Goals.

Reporting Period: 2020

Environmental Metrics

Scope 1 Emissions:204,648 tonnes CO2 (EU-ETS)
Scope 2 Emissions:16,054 kg CO2e
Scope 3 Emissions:~11,024.577 tonnes CO2
Renewable Energy Share:0%
Total Energy Consumption:950 GWh (Bruce Facilities), 57,801 kWh (Aberdeen office), 11,056 kWh (London office)
Water Consumption:34,000,000 tonnes (seawater)
Waste Generated:254 tonnes (total), 174.59 tonnes (general waste), 36.3 tonnes (landfill)
Carbon Intensity:17.5 kg CO2/boe

ESG Focus Areas

  • Climate Action
  • Responsible Consumption and Production
  • Life Below Water
  • No Poverty and Zero Hunger
  • Gender Equality and Reduced Inequalities
  • Good Health and Wellbeing
  • Decent Work and Economic Growth
  • Quality Education
  • Peace, Justice and Strong Institutions

Environmental Achievements

  • 45% reduction in gas flaring
  • 15% lower carbon emissions
  • First company to sign up to Zero Waste to Landfill initiative
  • Supply chain initiatives to reduce emissions
  • 60% reduction in oil discharged with produced water

Social Achievements

  • High safety performance - Zero Recordable Incidents (TRIF)
  • Consulted with staff and changed offshore shift pattern (from 21 to 14 days)
  • Publication of our D&I roadmap and calendar
  • Donations to Abernecessities, CFine & CLAN
  • Fatigue & Mental Health First Aider programmes extended

Governance Achievements

  • Increasing transparency with GRI, SASB and preparing to align to TCFD reporting
  • Adding ESG targets to staff bonus KPIs for 2021
  • Signed UN Global Compact
  • Formalised ESG communications in board meetings

Climate Goals & Targets

Short-term Goals:
  • Reduce general waste produced to under 200 tonnes
  • Increase percentage of recycled waste to >65%
  • Achieve Carbon Intensity of less than 17 kg of CO2 per boe

Environmental Challenges

  • COVID-19 pandemic and commodity price volatility
  • Maintaining safety and wellbeing during pandemic
  • Reducing Scope 3 emissions
Mitigation Strategies
  • Adapting working patterns, remote working, and safety protocols
  • Implementing pre-mobilisation COVID-19 testing
  • Initiatives to reduce fuel consumption in logistics and supply chain
  • Zero Waste to Landfill policy

Supply Chain Management

Responsible Procurement
  • ESG requirements integrated into procurement process
  • 94% of expenditure with UK suppliers

Climate-Related Risks & Opportunities

Transition Risks
  • Changes in climate regulation

Reporting Standards

Frameworks Used: GRI, SASB, TCFD (in progress), UN Global Compact

Third-party Assurance: EY (Annual Report only)

UN Sustainable Development Goals

  • Goal 7 (Affordable and Clean Energy)
  • Goal 8 (Decent Work and Economic Growth)
  • Goal 13 (Climate Action)

Initiatives contribute to these goals through emissions reduction, responsible resource management, and community engagement

Reporting Period: 2021

Environmental Metrics

Total Carbon Emissions:217,322 tonnes CO2
Scope 1 Emissions:217,322 tonnes CO2
Scope 2 Emissions:15,339 kg CO2e
Scope 3 Emissions:39,529 tonnes CO2
Renewable Energy Share:0%
Total Energy Consumption:975 GWh (Bruce) + 72,243 kWh (Offices)
Water Consumption:34,000,000 tonnes seawater (estimated)
Waste Generated:199 tons
Carbon Intensity:17.8 kgCO2/BOE

ESG Focus Areas

  • Climate Change
  • Health and Safety
  • Waste Management
  • Diversity & Inclusion
  • Community Engagement
  • Governance

Environmental Achievements

  • 53% reduction in flaring volumes from 2019
  • 14% reduction in Bruce Scope 1 emissions from 2019
  • 88% reduction in waste sent to landfill since 2019
  • Carbon Intensity lower than North Sea Average

Social Achievements

  • 92% participation in Safety Observation Programme
  • Strengthened recruitment processes to be more inclusive
  • Supported good causes across the UK
  • Completed over 4,600 hours of training
  • Launched wellbeing webinars and health awareness campaigns

Governance Achievements

  • Improved alignment with TCFD disclosures
  • Refreshed Code of Business Conduct
  • Published a new whistle-blowing policy
  • Supported the Energy Services Agreement
  • Introduced ESG-related KPIs linked to Senior Management and Directors' remuneration

Climate Goals & Targets

Long-term Goals:
  • Net zero emissions by 2050
Medium-term Goals:
  • Achieve zero routine flaring by 2030
Short-term Goals:
  • Daily flare (CAT A) below 9.5 tonnes/day, total flare below 5,000 tonnes
  • Scope 1 CO2 emissions below 210,000 tonnes
  • 60% waste recycled, total general waste below 90 tonnes
  • Develop a Methane Action Plan and establish a baseline

Environmental Challenges

  • Increased production rates requiring higher gas compression and fuel gas usage
  • Additional production from a third-party facility causing higher gas export compression
  • Equipment failure of the water injection pump and blockage in water disposal well
  • COVID-19 pandemic and associated restrictions
Mitigation Strategies
  • Implemented digital solutions to track and interpret emissions performance
  • Supply Chain introduced vessel sharing and alternative fueling stations
  • Installed and commissioned de-oiler equipment
  • Developed and implemented comprehensive COVID Management and Strategy
  • Accelerated invoice payments to assist suppliers with cashflow

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement
  • Energy Services Agreement
  • LOGIC terms and conditions
  • Accelerated invoice payments

Climate-Related Risks & Opportunities

Physical Risks
  • Extreme weather
Transition Risks
  • Regulatory changes
  • Market shifts
Opportunities
  • Development of energy-efficient products

Reporting Standards

Frameworks Used: GRI, SASB, TCFD, UNGC

Certifications: Cyber Essentials

Third-party Assurance: EY (Annual Report and Accounts only)

UN Sustainable Development Goals

  • Goal 7 (Affordable and Clean Energy)
  • Goal 13 (Climate Action)

Initiatives contribute to reducing emissions and promoting sustainable energy practices.

Sustainable Products & Innovation

  • Not disclosed

Awards & Recognition

  • SPE Offshore Achievement Net Zero Award

Reporting Period: 2022

Environmental Metrics

Total Carbon Emissions:234,283 tCO2e/year
Scope 1 Emissions:218,567 tCO2/year
Scope 2 Emissions:20,686 kgCO2e/year
Scope 3 Emissions:46,319 tCO2/year
Renewable Energy Share:0%
Total Energy Consumption:1017 GWh/year (Bruce Facilities)
Water Consumption:34,000,000 tonnes seawater/year
Waste Generated:263 tons/year
Carbon Intensity:16.4 kgCO2/boe (Bruce platform)

ESG Focus Areas

  • Climate Change
  • Health and Safety
  • Diversity and Inclusion
  • Community Engagement
  • Governance

Environmental Achievements

  • Carbon intensity on Bruce, 16.4 kgCO2/boe, lowest since taking over Operatorship
  • Reduced routine daily flaring
  • Set emissions targets - 50% by 2030, Net Zero by 2050
  • Developed and released Emissions Reduction Action Plan
  • Developed a Methane Action Plan and committed to sign up to OGMP 2.0
  • Reduced waste-to-landfill by 98% since 2018
  • Reduced plastic water bottle usage by 2400 bottles

Social Achievements

  • Awarded Young Person Guarantee Employer status
  • Increased organisational focus on Process Safety
  • Raised awareness of D&I issues
  • Awarded Silver award in OEUK Supply Chain Principles
  • Completed over 11,600 training hours
  • Donated £73,000 to charitable causes across the UK
  • Implemented Menopause Policy

Governance Achievements

  • Established a dedicated Board-level Sustainability Committee
  • Enhanced alignment to TCFD recommendations
  • Developed and rolled out new Code of Conduct training
  • Added ESG Policy and Strategy to Operations Management System

Climate Goals & Targets

Long-term Goals:
  • Achieve Net Zero emissions by 2050
Medium-term Goals:
  • Achieve 50% emissions reduction by 2030
Short-term Goals:
  • Reduce Scope 1 emissions to below 200,000 tonnes
  • Reduce total flared gas to under 5,000 tonnes

Environmental Challenges

  • Abnormal shutdown and startup operations associated with managing the Rhum Field exceeding flaring targets
  • Delay in reinstating water injection system resulting in oil in water discharges to sea
  • Increase in Scope 2 emissions due to increased office usage post-Covid restrictions
  • Maintaining strict pre-mobilisation testing and isolation procedures for offshore workers during the first half of 2022
Mitigation Strategies
  • Increased visibility of daily flared volumes, cultural change, and improved operating practices to reduce flaring
  • First 2023 well intervention campaign to reinstate water injection well
  • Implementing blended work policy to reduce commuting emissions
  • Measured relaxation of Covid-19 controls and removal of pre-mobilisation testing

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement
  • Contracts and Procurement Policy
  • Use of SEQual for supplier pre-qualification
  • 93% spend on UK based suppliers

Climate-Related Risks & Opportunities

Physical Risks
  • Extreme weather
  • Storms
  • Exceptional wave conditions
Transition Risks
  • Reduced demand for oil and gas
  • Increased costs and taxes
  • Restricted access to finance
  • ESG considerations restricting acquisitions
  • Negative industry reputation
Opportunities
  • Strengthened stakeholder relationships
  • Acquisition of divested oil and gas assets
  • Incentives for investing in energy efficiency technology
  • Collaboration on innovation solutions

Reporting Standards

Frameworks Used: GRI, SASB, TCFD, UNGC

Certifications: Cyber Essentials

Third-party Assurance: RISC (UK) Ltd (Limited Assurance on emissions)

UN Sustainable Development Goals

  • Goal 7 (Affordable and Clean Energy)
  • Goal 13 (Climate Action)

Initiatives contribute to these goals through emissions reduction, energy efficiency improvements, and support for renewable energy technologies.

Sustainable Products & Innovation

  • Not disclosed

Awards & Recognition

  • Silver Supply Chain Principles award (OEUK)

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:371,888 tCO2e/year
Scope 1 Emissions:191,317 tCO2e/year
Scope 2 Emissions:43 tCO2e/year
Scope 3 Emissions:180,528 tCO2e/year
Renewable Energy Share:0% (excluding Aberdeen office)
Total Energy Consumption:835 GWh/year (Bruce Platform)
Water Consumption:13,235 m3/year (produced water discharged)
Waste Generated:304 tons/year
Carbon Intensity:16.36 kgCO2/boe (Scope 1)

ESG Focus Areas

  • Climate Change
  • Safety
  • Diversity & Inclusion
  • Supply Chain Sustainability
  • Community Engagement
  • Governance

Environmental Achievements

  • Reduced Scope 1 CO2 emissions by 18% compared to 2022 (179,447 tonnes vs 218,567 tonnes)
  • Reduced methane emissions by 33% compared to 2022
  • Reduced total flaring volumes by over 50% compared to 2018 (4,708 tonnes vs 10,309 tonnes)
  • Reduced oil discharged overboard by 73% compared to 2022 (0.24 tonnes vs 0.88 tonnes)
  • 99% of waste avoided landfill

Social Achievements

  • Launched Process Safety Improvement Plan
  • Completed well intervention and abandonment work scopes with no recordable injuries
  • Increased female representation on the Board to 27%
  • Awarded Armed Forces Covenant Silver Award
  • Donated over £117,000 to causes across the UK

Governance Achievements

  • Established a dedicated Sustainability Committee
  • Welcomed five new Board members, increasing the number of independent non-executive directors
  • Integrated Tailwind Energy into the organization

Climate Goals & Targets

Long-term Goals:
  • Achieve net zero emissions by 2050 (North Sea Transition Deal target)
Medium-term Goals:
  • Reduce CO2 emissions by 25% by 2027 (North Sea Transition Deal target)
  • Achieve zero routine flaring by 2030 (World Bank target)
Short-term Goals:
  • Reduce Bruce Scope 1 carbon intensity to 15.5 kg CO2/boe by 2024
  • Reduce general waste and dry mixed recyclables to under 90 tonnes by 2024
  • 90% or above of total waste to be reused, recycled or sent to waste-to-energy by 2024

Environmental Challenges

  • Supply chain disruptions due to extreme weather
  • Meeting ambitious emissions reduction targets
  • Maintaining a diverse workforce in a competitive market
  • Managing risks associated with the energy transition
Mitigation Strategies
  • Developed alternative sourcing strategies
  • Implemented emissions reduction action plan
  • Enhanced recruitment practices to attract diverse candidates
  • Engaged with industry and regulatory forums to collaborate on solutions

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement
  • Code of conduct
  • Supplier sustainability requirements
  • SEQual pre-qualification

Climate-Related Risks & Opportunities

Physical Risks
  • Extreme weather
  • Supply chain disruptions
Transition Risks
  • Regulatory changes
  • Market shifts
  • Reduced demand for fossil fuels
Opportunities
  • Investment in clean technology
  • Acquisition of divested oil and gas assets

Reporting Standards

Frameworks Used: GRI, SASB, TCFD, UNGC

Certifications: Null

Third-party Assurance: RISC (UK) Ltd (Limited Assurance)

UN Sustainable Development Goals

  • Goal 7 (Affordable and Clean Energy)
  • Goal 13 (Climate Action)

Initiatives contribute to reducing emissions and promoting sustainable energy practices

Sustainable Products & Innovation

  • Not disclosed

Awards & Recognition

  • OEUK Working as One Gold Award
  • Armed Forces Covenant Silver Award