General – Rejection
On 13 October 2025, UK independent Serica Energy announced that it had signed an agreement to acquire BP’s entire stake in the P111 and P2544 licences.
However, on Monday, Serica Energy revealed that the proposed purchase would not proceed after licence partner Neo Next exercised its pre-emption rights.
Chris Cox, Serica’s CEO, stated: “While this outcome is of course disappointing, it was always known to be a possibility. Serica continues to actively pursue further M&A opportunities, as well as advance our attractive organic growth options, with the goal of diversifying the Company’s asset portfolio, increasing production, and creating value for shareholders.”
