Former Spirit Energy CEO takes the same role at Serica

UK-based oil and gas player Serica Energy has picked a new Chief Executive Officer (CEO) to spearhead the company which has been in the hands of an Interim CEO for over three months.

Following its search for a new CEO, Serica set its cap on Chris Cox, who has over forty years of experience in the oil and gas industry, to take the reins at the company on July 1, 2024. The firm’s Chairman David Latin, who has been acting as Interim CEO since February, will step down from this temporary position on the same date.

Cox holds a BSc in Petroleum Engineering from London’s Imperial College and has experience as a non-executive director of private equity and publicly listed companies, most recently Nostrum Oil & Gas. He has also been at the helm of various multi-asset and multi-country businesses, including as CEO of Spirit Energy, Interim CEO at Capricorn Energy, and Chairman of Kellas Midstream.

Latin welcomed Cox’ appointment, adding that he was looking forward to working with the new executive team on delivering growth and returns for investors.

“His technical and commercial acumen, combined with his track record in leadership and teambuilding as CEO of substantial upstream entities operating in multiple geographies including the UK and Norway, make him an excellent fit with Serica’s existing operations, exciting drilling programme currently underway and ambitions to grow through M&A,” said Latin.

Cox echoed Latin’s sentiment, stating that he was honored to be given the opportunity to lead the company “at this very important time”.

He noted: “In the last several years, Serica has established itself as one of the leading producing companies in the UK North Sea. I will do my utmost to continue the company’s reputation for safe high quality operational performance, to realize the significant potential for growth within the existing portfolio and to add further value for shareholders through M&A.”

The UK player’s subsidiary Serica Energy (UK) Limited recently purchased a stake in the Greater Buchan Area (GBA) project in the North Sea, described as the third largest pre-development field on the UK Continental Shelf. While the final investment decision (FID) is still pending, front-end engineering and design (FEED) work is progressing according to schedule, with the first production expected in late 2026.

In February, the firm announced that its plan for 2024–2026 includes drilling four wells in the Triton area and doing well intervention work on the Bruce and Keith fields in the North Sea.