Lancaster

Blocks 205/21a, 205/22a and 205/26b

Serica 100% (operator)

The Lancaster field is located in blocks 205/21a, 205/22a and 205/26b, licence P1368 Central.

• Serica acquired a 100% interest in the Lancaster field as part of the purchase of Prax Upstream Limited in December 2025
• The Lancaster field was discovered in 2009.
• The FPSO Aoka Mizu, which is owned and operated by Bluewater, is currently deployed at the Lancaster field
• The Lancaster field is expected to cease production by the middle of 2026, when the Aoka Mizu FPSO leaves the area

Greater Laggan Area

40% operated interest in Laggan, Tormore, Glenlivet, Edradour and Glendronach fields, the Shetland Gas Plant, and nearby exploration licences

Acquired from TotalEnergies, with the deal completing in March 2026.

• Currently eight producing wells from four fields in the Greater Laggan Area
• Production of c.5,000 boepd
• 2P reserves of 4.0 mmboe
• 2C resources of 5.4 mmboe
• Shetland Gas Plant is the newest onshore gas processing facility in the UK, and a strategic position as the key gas processing infrastructure host for one of the most prospective basins on the UK Continental Shelf
• Multiple sources of organic growth potential, including the Glendronach tie-back, infill potential on the Tormore field, four exploration licences, and third-party business at the Shetland Gas Plant.