Material oil producer, driven by positive subsurface delivery
The Triton Hub has eight producing oil fields developed via common infrastructure in the UK Central North Sea, located approximately 190 km east of Aberdeen in water depths of 90m. The Triton FPSO is operated by Dana Petroleum.
Production
5,900 boepd
in 2025
2P reserves
49.9 mmboe
as of 31.12.2025
2C resources
18.5 mmboe
as of 31.12.2025
Triton area fields
Bittern 64.63%, Evelyn 100%, Gannet E 100%, Guillemot West & North West 10%, Belinda 100%
Production from the Triton Hub, operated by Dana Petroleum, averaged 5,900 boepd in net to Serica, significantly below potential due to necessary maintenance work that took place on the Triton FPSO throughout the year. Ongoing strong subsurface performance means that the field can sustain production of over 20,000 boepd net to Serica, with new wells from the Evelyn and Belinda fields ready to support this figure.
The focus continues to be working with the operator to increase reliability, optimising production through one compressor before potentially moving to twin compressor operations following a period of stability.
Triton FPSO
Serica 46%, Dana Petroleum (operator) 52% and Waldorf 2%
The Triton FPSO is the infrastructure and export hub for the Triton area fields. The vessel was a new-build double hull tanker fabricated in 1997 and installed in 2000.
Since it was developed, Dana (the operator) has carried out a number of initiatives focused on integrity and reliability ensuring that the Triton FPSO is able to accommodate successful drilling results and future infill and tie-back opportunities. The operator is undertaking a life extension work programme with the objective of ensuring operations well into the next decade. Serica’s focus continues to be working with the operator to increase reliability, optimising production through one compressor before potentially increasing production via moving to twin compressor operations following a period of stability.
Successful drilling campaign
In 2025, Serica completed a five-well drilling campaign in the Triton area, with all wells delivering positive results which met or exceeded pre-drill estimates. The programme was delivered 25 days ahead of schedule and over $30 million net to Serica under budget. Production from these wells will more than offset Triton production in the next couple of years, supporting ongoing material cash generation.
Future growth potential
The Kyla redevelopment (Serica (operator) 100%), located in Block 29/2c, is a previously producing oilfield, 20 km south-east of Triton, shut-in in 2020 solely due to the decommissioning of the Banff FPSO host facility. A field development plan was submitted in February 2026, and 10.2 mmboe of 2C resources have been matured to 2P reserves. Kyla can be produced via a single horizontal well tied back to Triton via Bittern, similar to other Triton tie-backs.
