Rig secured for multi-well UKCS drilling programme
Summary by AI BETAClose X
2 November 2026
Serica Energy Plc.
('Serica' or 'the Company')
Rig secured for multi-well UKCS drilling programme
Serica Energy Plc (LSE: SER) is pleased to announce that it has signed a contract for an Odfjell Drilling operated rig the Beacon Pacific, to execute a multi-well UK Continental Shelf ('UKCS') drilling campaign targeting high-return, near-field opportunities across Serica's portfolio.
The opportunities targeted by the campaign have the potential to add up to 30,000 boepd of incremental production to Serica, helping to sustain portfolio production of 50,000 boepd into the next decade.
The Beacon Pacific is a sixth-generation semi-submersible rig, upgraded for operations to a depth of 620 metres, capable of addressing the full range of Serica's identified drilling opportunities, with the opportunity to also utilise the rig to undertake required plugging and abandonment activity.
The contract encompasses a firm scope of six wells, along with further options for additional activity. Drilling is expected to commence in Q3 2027 with the first wells drilled at the Bruce field since 2012, targeting more than 10,000 boepd of incremental production, with the potential for first production approximately 12 months from drilling commencing.
Drilling opportunities
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Reserves/resources targeted |
Initial production potential net to Serica |
Time to production from start of drilling |
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Bruce infill drilling |
18.6 mmboe 2P |
>10,000 boepd |
12 months |
|
Kyla redevelopment |
10.1 mmboe 2P |
>5,000 boepd |
5 months |
|
Edradour Royal Sovereign Spinnaker[1] |
5 mmboe 2C |
>5,000 boepd |
6 months |
|
Tormore |
TBC |
4,000 boepd |
6 months |
Chris Cox, Serica's CEO, stated:
"Securing the rig is an important milestone in delivering our organic growth programme. Our first campaign will be at Bruce - the field's first drilling programme in almost fifteen years - where we are targeting high-return infill wells with the potential for rapid payback."
Utilising the Beacon Pacific also gives us the operational flexibility to progress additional opportunities across Kyla and the Greater Laggan Area, following partner and regulatory approval, maintaining momentum in our wider UKCS portfolio."
-end-
Contacts:
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Serica Energy plc |
+44 (0)20 7487 7300 |
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Martin Copeland (CFO) / Andrew Benbow (Head of Investor Relations) |
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Peel Hunt (Joint Broker) |
+44 (0)20 7418 8900 |
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Richard Crichton / David McKeown / Emily Bhasin |
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Jefferies (Joint Broker) |
+44 (0)20 7029 8000 |
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Sam Barnett / Cameron Jones |
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Vigo Consulting (PR Advisor) |
+44 (0)20 7390 0230 |
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Patrick d'Ancona |
serica@vigoconsulting.com |
About Serica
Serica Energy is an independent British oil and gas company with a broad portfolio of assets located in the UK Continental Shelf (UKCS). The Company operates assets that deliver around 10% of the UK's gas production, a key component of the UK energy system, and has invested over £1 billion in the UK supply chain since 2020. Serica maintains a broadly balanced output of oil and gas across its operations.
The Company's key producing assets are grouped around two major hubs: the Bruce, Keith, and Rhum fields in the Northern North Sea, where Serica is the operator; and a mix of operated and non-operated fields connected to the Triton FPSO in the Central North Sea. The Company also holds a significant position in the Southern North Sea, including a 15% stake in the Cygnus field and 25% in Clipper South, and a notable position West of Shetland, including a 40% operated stake in the Greater Laggan Area offshore fields and associated Shetland Gas Plant.
Serica aims to create shareholder value through a mix of production from existing oil and gas fields, organic investment and M&A.
Serica's shares trade on the Main Market of the London Stock Exchange (ticker: SER). More information about Serica is available on the Company's website (www.serica-energy.com). To receive news updates by email, interested parties can subscribe through the website.
[1] Formerly referred to as Glendronach
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