Member Spotlight – Serica Energy

We’re pleased to launch our Member Spotlight series with Serica Energy. As a significant UK North Sea operator with a clear focus on responsible growth, Serica brings a thoughtful and practical perspective to many of the conversations shaping the energy sector today. Below, the team shares an overview of the business, what sets Serica apart, and how they’re looking ahead to what comes next.

 

Serica Energy Essentials 

Serica Energy is a UK-based, independent oil and gas exploration and production company, focused on the UK Continental Shelf, with a balanced portfolio of gas and oil fields across multiple hubs, and responsible for around 5% of the UK’s natural gas production. The Company’s staff numbers over 250 located in London, Aberdeen and offshore.

Serica is listed on AIM with a stated intention to move to the Main List of the UK Stock Exchange.

Serica has producing interests currently in 11 UK North Sea fields, mainly situated around two hubs: Bruce in the Northern North Sea and Triton in the Central North Sea. There are significant potential investment opportunities within the Company’s existing portfolio assets, including infill drilling targets on the Bruce field, the potential Kyla field redevelopment and the Skerryvore exploration prospect.

During 2025 Serica executed multiple acquisitions which are set to more than double the number of fields in which Serica is present and diversify its production and add to the hopper of organic investment opportunities. The first of these acquisitions was Prax Upstream Limited, which completed in December 2025 and brought with it agreements to acquire assets including TotalEnergies’ operated interests in the Greater Laggan Area and the Shetland Gas Plant. In December 2025 Serica also announced the acquisition of a package of operated and non-operated assets from Spirit Energy in the Southern North Sea, including the Cygnus gas field.

Serica Energy’s differentiators

• Growth – through acquisitions and organic investment, Serica’s production capacity has increased from less than 2,000 barrels oil equivalent per day in 2017 to over 50,000 barrels today, with further increases to follow as a result of the acquisitions executed in 2025. Moreover, Serica has several potential organic investment opportunities spanning short and longer cycle projects.
• Financial strength – through this rapid period of growth, Serica has maintained a very strong balance sheet with a low level of debt and relatively limited exposure to decommissioning costs. This is the result of the deals it has done, including leaving significant decommissioning costs with the sellers, and because the transactions have been of cash generative assets.
• Partner and counterparty – in transactions to acquire assets, as a customer of the UKCS supply chain and in the stewardship of its assets, Serica has an enviable reputation. This is illustrated by Serica receiving a gold award in each of the last two Working as One surveys, an industry-wide survey measuring performance against the OEUK Supply Chain Principles.

 

Looking forward

2026 is expected to see significant events in the continuing evolution of Serica Energy. These include:

• Legal completion of the transactions with TotalEnergies and Spirit Energy which will increase Serica’s production.
• The bringing onstream of Serica’s 100% owned Belinda field, which was drilled in 2025 and is being tied back to the Triton FPSO.
• Maturing of potential organic investments such as the Kyla field.
• A potential move from the UK AIM to the Main Market

 

Membership of the Scottish Energy Forum

Affordable Energy is the lifeblood of a modern economy and Serica’s stated purpose is “to contribute responsibly towards meeting the world’s energy needs through the safe and efficient production of hydrocarbons”.

Our membership of the Scottish Energy Forum gives us access to high-quality dialogue on policy, finance and technology. We can both learn from this and share our perspectives as a significant UK North Sea operator, contributing to the world’s energy requirements, especially in the UK.