In a statement posted on its website on Thursday, Spirit Energy revealed that it has shared a proposal to restructure its UK organization with colleagues.
The proposal sees the separation of the company into two independent organizations – a Barrow, England, based operating company, which would manage the Morecambe Hub fields in the East Irish Sea, and an Aberdeen, Scotland, based development company, which Spirit Energy noted would take forward the organization’s Morecambe Net Zero (MNZ) carbon storage business to a final investment decision.
“With the expected completion of the transaction with Serica Energy for our Greater Markham Area (GMA) portfolio in the second half of this year, our structure must change to ensure our resources and personnel are where they are needed to support our activities,” Spirit Energy said in the statement.
“We are committed to supporting all our colleagues throughout the consultation process,” the company added.
Rigzone has asked Spirit Energy if the restructure proposal foresees any job losses and how long the consultation process will be. At the time of writing, Spirit Energy has not responded to Rigzone.
In a statement posted on its website in December 2025, Serica Energy announced the entry into a sale and purchase agreement to acquire a portfolio of Southern North Sea assets from Spirit, as well as “certain affiliates”.
“The upfront consideration is GBP 57 million (c.$74 million) with the effective economic date being 1 January 2025,” Serica highlighted in that statement, noting that completion was expected in the second half of this year.
The acquired assets include a 15 percent non-operated working interest in the Cygnus field, Serica pointed out, describing the asset as one of the largest producing gas fields on the UK Continental Shelf. The deal also includes a 25 percent non-operated working interest in Clipper South, operated positions across various assets in the Greater Markham Area, and further operated and non-operated interests in gas fields across the Southern North Sea, Serica highlighted in the statement.
“This transaction is a further step towards delivering on our strategy and diversifying our asset base through the addition of high-quality assets, adding over 15 percent to our reserves and significantly boosting production,” Serica CEO Chris Cox said in the statement.
“These are also assets I personally know well, and the Cygnus field in particular is an attractive addition to our portfolio given its high uptime, low emissions, and low operating costs,” he added.
“There is also the potential for further infill drilling opportunities across the portfolio, most significantly at Cygnus, where drilling is ongoing,” he went on to state.
In a statement posted on its site in September last year, Spirit Energy announced that it had completed “the latest in a series of activities to boost gas production” from its Morecambe hub. The company noted in that statement that it had invested approximately GBP 20 million ($27 million) “to maximize economic recovery from the fields”.
“It is estimated the activities could increase production from the field by around 300,000 barrels of oil equivalent annually – enough to power an extra 130,000 UK homes for one year,” the company said in that statement.
“Over the summer, the operations, wells and project teams worked together on a campaign to enhance gas production from the DPPA platform’s production wells, in the North Morecambe field,” it added.
“This involved a series of interventions in the casings of five wells, improving productivity and enabling higher gas rates,” it continued.
The campaign followed an upgrade of the compressor on the Central Processing Complex (CPC) platform to lower pressure and increase gas production from South Morecambe, and the introduction of agents into some of the wells to improve gas flow, Spirit Energy highlighted in the statement.
Spirit Energy describes itself on its website as “a truly pioneering energy company with a portfolio and ambitions that span the breadth of the energy transition”. The company’s site shows that the business has operations in the UK and the Netherlands and a team of 450 people.
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