Cornerstone of Serica’s UK North Sea operations
Operated by Serica since 2018, the Bruce Hub produces around 5% of the UK’s gas through the Bruce, Keith and Rhum fields.
Production
16,100 boepd
in 2025
2P reserves
61.2 mmboe
as of 31.12.2025
2C resources
55.8 mmboe
as of 31.12.2025
Discovered in 1974 and developed by BP in the early 1990s, the hub is located 340 km north-east of Aberdeen and continues to be a key producer in the UK North Sea. Serica is focused on enhancing the reliability of the hub and optimising production, while also working to support the extension of asset life that will allow the potentially material uplift in production volumes from new drilling on the Bruce field to be delivered in the years to come.
Delivering growth from Bruce
There have been no wells drilled on the Bruce field since 2012. Following the development of a full field model, numerous infill drilling locations have been identified and high-graded, with three opportunities prioritised on the western side of the field, providing the best opportunity for rapid tie-back to the Bruce subsea and platform facilities. Drilling could potentially begin in 2027, with the potential to deliver a material uplift in production from the Bruce field as well as to extend the life of the hub.
Delivering for the UK, delivering for our workers
At the heart of the Bruce Hub is a commitment to safe, efficient and high-performing operations. Serica prioritises the safety of its workforce and the integrity of its assets, while also focusing on emissions. The Bruce Hub has emissions below the North Sea average, with emissions reduction projects, including the flare gas recovery project, ongoing.
Rhum – OFAC License
Iran Oil Company (U.K.) Limited (‘IOC’) has held a non-operated 50% interest in the Rhum field since its discovery in 1977. In November 2018, 100% of the shares in IOC were assigned from Naftiran Intertrade Co. (‘NICO’) Limited – part of the National Iranian Oil company group – to a Jersey purpose trust. At the same time, management of IOC’s interest in the Rhum field was delegated to Rhum Management Company Limited (‘RMC’), formed for this purpose and also wholly owned by the Jersey trust. As a result of these arrangements, neither NICO nor any other Iranian entity currently has any ownership, financial benefit or involvement in the Rhum field. RMC acts effectively as Serica’s joint venture partner in Rhum.
Following the US withdrawal from the Joint Comprehensive Plan of Action, these arrangements in relation to IOC and its interest in the Rhum field were a condition of the Office of Foreign Asset Control (‘OFAC’) – part of the US Treasury Department – continuing to issue an OFAC License.
The OFAC License permits the supply of specified goods and services to the Rhum field from certain US and US owned or controlled companies. In addition, OFAC has provided a written assurance that all other companies that are neither US companies nor US owned or controlled can provide goods and services to the Rhum field without being exposed to breach of US secondary sanctions.
Subsequently, the OFAC License and secondary sanctions assurance have been periodically renewed without interruption. The current OFAC License and secondary sanctions assurance run to 28 February 2027.
