North Sea and Offshore Exploration Activity Picks Up as Serica Closes Acquisition and TGS Heads to Africa

## Upstream Oil & Gas Briefing: Exploration and M&A Activity Gathers Pace Two developments this week point to sustained activity in the upstream oil and gas sector, spanning the North Sea, Africa, and the Middle East, as operators and service providers push ahead with portfolio growth and exploration programmes. ### Serica Energy Wraps Up ONE-Dyas Asset Acquisition UK-based independent Serica Energy has completed the acquisition of North Sea assets from Netherlands-headquartered exploration and production company ONE-Dyas, according to Offshore Energy. The deal, which had been previously disclosed, has now been formally closed, strengthening Serica's long-term resource base and consolidating its position as a significant North Sea operator. The transaction represents a continued strategy by Serica to grow its portfolio through targeted acquisitions at a time when many smaller independents are rationalising their North Sea holdings. By absorbing additional producing or development-stage assets, Serica enhances both its near-term production outlook and its longer-term reserve replacement credentials — a key metric for investor confidence in the current commodity environment. The North Sea basin, while a maturing province, continues to attract deal-making activity as operators seek operational synergies and fiscal efficiencies under the UK's existing licensing and tax framework. ### TGS Secures New 3D Seismic Contract in Africa and Middle East In the exploration services space, Norwegian energy data and intelligence company TGS has been awarded a new 3D streamer seismic acquisition contract with an undisclosed oil and gas operator active in Africa and the Middle East, Offshore Energy reports. The assignment will see TGS deploy streamer acquisition technology to support subsurface evaluation in a region that remains a focal point for frontier and near-field exploration. While the client and precise geographic scope have not been disclosed, the contract underscores the ongoing demand for high-quality seismic data as operators in Africa and the Middle East seek to mature prospects and de-risk drilling programmes. TGS, which operates one of the industry's largest multi-client geoscience libraries, has been actively expanding its contract acquisition work alongside its traditional data licensing business. The award reflects broader confidence in exploration spending across both regions, where national oil companies and international players continue to invest in subsurface intelligence ahead of potential drilling campaigns. ### Sector Outlook Taken together, these developments suggest that upstream investment — both in terms of M&A and exploration services — remains resilient despite ongoing macroeconomic uncertainty. For the maritime and offshore supply chain, sustained exploration and field development activity translates into continued demand for seismic vessels, support tonnage, and offshore infrastructure services.