Serica Energy has completed the acquisition of a 40% operated interest in the Greater Laggan Area and associated infrastructure from TotalEnergies, strengthening its position in the West of Shetland basin.
The deal, first announced in September 2025, includes operated license interests in four near-field exploration blocks and establishes a new operated hub for Serica with current net production of just over 5,000 barrels of oil equivalent per day.
The company said the Greater Laggan Area provides multiple organic growth opportunities, including the Glendronach tie-back, infill drilling potential at the Tormore field, and exploration across four licenses, as well as third-party business at the Shetland Gas Plant.
The Greater Laggan Area is estimated to contain net 2P reserves of 4.0 million barrels of oil equivalent and 2C resources of 5.4 million barrels of oil equivalent as of December 31, 2025.
The acquisition adds to Serica’s portfolio on the UK Continental Shelf, where it operates assets delivering around 10% of the country’s gas production.
The company said it plans further expansion in 2026, including the acquisition of interests in the Catcher and Golden Eagle Area Development fields from ONE-Dyas and a package of assets from Spirit Energy.