Production and material growth opportunities
An operated hub with production, multiple sources of organic growth potential, and a strategic position as the key gas processing infrastructure host for one of the most prospective basins on the UK Continental Shelf.
Production
c.5,000 boepd
2P reserves
4.8 mmboe
as of 31.12.2025
2C resources
5.4 mmboe
as of 31.12.2025
Greater Laggan Area
Greater Laggan Area and associated infrastructure, licence interests in four near field exploration blocks (40% working interest, operator)
Serica entered the area West of Shetland through the acquisition of Prax Upstream in 2025, bringing the Lancaster field into the portfolio, production from which ceased as expected in May 2025. The concurrently announced acquisition of the Greater Laggan Area and associated infrastructure from TotalEnergies then delivered a new operated hub with net production of just over 5,000 boepd, multiple sources of organic growth potential, and a strategic position as the key gas processing infrastructure host for one of the most prospective basins on the UK Continental Shelf.
Growth opportunities include the Glendronach tie-back, infill potential on the Tormore field, four exploration licences, and third-party business at the Shetland Gas Plant.
A potentially major hub for UK gas production
The Shetland Gas Plant was commissioned in 2016 and is the newest onshore gas processing facility in the UK. Natural gas represents nearly 40% of the UK's total energy supply with a growing gap between UK demand and domestic production. The plant and associated infrastructure serve as the key gathering system for gas coming from the West of Shetland basin.
The West of Shetland area holds 1.5 billion boe in discovered and prospective resources within 50 km of existing infrastructure, and an estimated 5 trillion cubic feet of gas – enough to provide for five years of use for each household in the UK.
