Further to its announcement on 30 September 2025, Serica Energy Plc (AIM: SQZ) is pleased to announce that the acquisition of a 40% operated interest in the Greater Laggan Area (‘GLA’) and associated infrastructure, and operated licence interests in four near field exploration blocks, from TotalEnergies, has now completed.

The acquisition delivers a new operated hub for Serica in the West of Shetland basin with current 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. The 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.

The GLA is estimated to contain net 2P reserves of 4.0 mmboe and 2C resources of 5.4 mmboe as at 31 December 20251
.
Serica has settled the consideration of £1, and has received a payment of $55.7 million, reflecting interim post-tax cashflows between the Economic Date of 1 January 2024 and the date of completion.

About Serica Energy

Serica Energy is a British independent oil and gas exploration and production company with a portfolio of UKCS assets. Serica has a balance of gas and oil production. The Company is responsible for about 5% of the natural gas produced in the UK, a key element in the UK's energy transition.

Serica's producing assets are focused around two main hubs: the Bruce, Keith and Rhum fields in the UK Northern North Sea, which it operates, and a mix of operated and non-operated fields tied back to the Triton FPSO. Serica also has operated interests in the producing Columbus (UK Central North Sea) and Orlando (UK Northern North Sea) fields and a non-operated interest in the producing Erskine field in the UK Central North Sea.

Serica has a two-pronged strategy for growth comprising investment in its existing portfolio and M&A.

About TotalEnergies

TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to provide as many people as possible with energy that is more reliable, more affordable and more sustainable. Active in about 120 countries, TotalEnergies places sustainability at the heart of its strategy, its projects and its operations.