Serica’s North Sea expansion boost: Acquisition wrap-up ensures oil & gas portfolio growth

June 11, 2026, by Melisa Cavcic

UK-based upstream oil and gas player Serica Energy has enhanced its long-term resource outlook by bringing to a close the acquisition of previously disclosed assets from the Netherlands-headquartered exploration and production player ONE-Dyas.

Serica revealed the acquisition of ONE-Dyas’ 10% non-operated working interest in the Harbour Energy-operated Catcher field and a 5.21% interest in the CNOOC-operated Golden Eagle Area Development (GEAD) fields in the Central North Sea in September 2025. The deal was estimated to be worth $6.75 million.

While confirming the completion of this acquisition, the UK player emphasizes that the addition further diversifies its producing portfolio, with current net production of around 2,500 barrels of oil equivalent per day (boepd), and adds combined net 2P reserves of 3 million boe and 2C resources of 0.5 million boe as at December 31, 2025.

The company has settled the consideration of $6.75 million and received a payment of $13 million, reflecting interim post-tax cashflows between the economic date of January 1, 2024, and the date of completion.

In addition, Serica will receive around 85,000 barrels of oil equivalent in respect of an underlift position, with the associated cash proceeds of approximately $8 million to be received in Q3.

This acquisition comes shortly after the UK firm brought into its fold an interest in West of Shetland gas fields and assets from TotalEnergies, further enlarging its footprint on the UK Continental Shelf (UKCS).