Serica Energy has struck a deal to acquire a 40% interest in the P2530 Licence for approximately £500,000, marking another strategic expansion in the UK North Sea.
The agreement with Finder Energy gives Serica access to the Wagtail oil discovery along with two promising exploration prospects. This acquisition adds an estimated 8 million barrels of net contingent resources to Serica’s growing portfolio.
Wagtail sits in a prime position north-west of the Triton FPSO, offering potential for cost-effective tie-back development. The North Sea Transition Authority has granted a licence extension until August 2026, providing crucial time for development planning.
During this extension period, the joint venture partners will conduct detailed engineering studies. These studies will evaluate Wagtail’s integration potential with the existing Triton FPSO infrastructure and confirm the economic viability of a tie-back development.
The P2530 licence also includes the Marsh and Bancroft exploration prospects, described as low-risk opportunities. This combination of discovered resources and additional prospects enhances Serica’s organic growth potential in the region.
Finder Energy will continue as operator with a 60% stake, while Dana Petroleum retains its 40% interest alongside Serica’s new position.