Viaro Energy

What Viaro Energy does

Viaro Energy is a UK-based independent upstream energy group operating across the UK Continental Shelf and the Netherlands North Sea, with working interests in more than 60 oil and gas fields held primarily through its main operating subsidiary, RockRose Energy Limited, and a Dutch subsidiary, RockRose (NL) CS1 B.V. The portfolio is heavily weighted toward natural gas (more than 70% of assets), and the company reports contributing up to 9% of total gross daily UK gas production through joint-venture and operated interests, with daily production of less than 25,000 BOEPD prior to the Shell and ExxonMobil Southern North Sea acquisition. The 2024 agreement with Shell and ExxonMobil added 11 operated offshore gas fields, one exploration field, and the strategically critical Bacton Gas Processing Terminal, which feeds gas used to generate approximately 40% of Britain's electricity. Viaro also expanded into renewables through the 2025 Evoterra acquisition, which added 138 wind turbines in East Anglia and onshore oil and gas assets in the UK and Germany, and added the Selene discovery via the Deltic Energy acquisition.

The company's underlying technology is conventional upstream exploration and production, anchored by aging but high-performing North Sea infrastructure (approximately 90% production efficiency reported on the Southern North Sea assets) and gas processing capacity at Bacton. Identified tight-gas potential in the Galleon and Barque fields and near-field exploration in the Greater Sole Pit area indicate ongoing subsurface development work. The Bacton terminal is being positioned as a potential energy transition hub for hydrogen production, carbon capture and storage, and offshore wind integration, although these are aspirational rather than current revenue-generating activities.

Viaro's business model is a B2B upstream commodity producer selling natural gas into the UK National Transmission system operated by National Grid, with downstream offtake by UK power generators, and selling renewable electricity to Ecotricity. Pricing is set by commodity markets (Brent crude and NBP gas) rather than company-set prices, so revenue is commodity-cyclical. Growth has been funded through acquisitions rather than external venture capital, with disclosed deal values of approximately £250 million for RockRose, £120 million for SSE's North Sea gas business, and £500 million for the Shell and ExxonMobil SNS portfolio, alongside the Evoterra and Deltic transactions. The company is headquartered in London, with operating offices in Aberdeen and Amsterdam, and is led by founder-CEO Francesco Mazzagatti.

Name

Viaro Energy

Legal name

Viaro Investment Limited

Website

https://viaro.co.uk

Company type

Private

Operating status

Operating

Headcount range

1–10 employees

Short description

Viaro Energy is a UK-based independent upstream energy company operating 60-plus oil and gas fields across the UK Continental Shelf and Netherlands North Sea via RockRose Energy. Following the Shell and ExxonMobil deal, it owns the Bacton terminal and has entered renewables.

Ownership category

akta.pro rank

Product category

Upstream Oil and Gas Production

NAICS

Oil and Gas Extraction (211), Fossil Fuel Electric Power Generation (221112), Natural Gas Distribution (2212), Wind Electric Power Generation (221115)

SIC

Crude Petroleum & Natural Gas (1311), Cogeneration Services & Small Power Producers (4991), Natural Gas Transmisison & Distribution (4923), Oil & Gas Field Services, Nec (1389)

akta.pro primary industry

Production Operations & Artificial Lift (Surface Facilities, Compression, Flow Assurance) (EUAAAAAK)

akta.pro secondary industry

Asset Management & Owner’s Engineering (Lifecycle Strategy, Budgeting, Technical Due Diligence) (EUAMAGAJ)

Keywords

• Upstream oil and gas
• Natural gas production
• Offshore exploration
• Energy transition assets
• Renewable energy generation

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Supply Chain, Infrastructure, Personnel, Marketing or Sales

Revenue model

1. Oil and Gas Production Revenue: Viaro Energy generates revenue through the production and sale of natural gas and oil extracted from its North Sea assets. The company sells gas to the UK National Transmission system operated by National Grid. Gas production contributes to UK energy security with the Bacton terminal capable of supplying significant proportions of UK gas demand.
2. Renewable Energy Generation: Revenue from wind turbine fleet generating over 0.5GWh of clean energy per year, with electricity sold to green energy partner Ecotricity.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

Viaro Energy is an independent upstream energy company that acquires, develops, and operates oil and gas assets in the UK Continental Shelf and Netherlands North Sea, with working interests in over 60 fields, of which more than 70% are natural gas assets. Its operations span offshore and onshore production, the strategically important Bacton Gas Processing Terminal, and a wind turbine fleet that generates renewable electricity sold to Ecotricity. The company generates revenue by selling produced hydrocarbons into the UK and European energy markets and by selling renewable electricity to a green energy off-taker.

Product overview

Viaro Energy is an independent upstream energy company operating as a platform of acquired and operated oil and gas assets. The company operates a multi-asset portfolio comprising offshore natural gas production from over 60 North Sea fields (UKCS and Netherlands), the strategic Bacton Gas Processing Terminal, 138 wind turbines for renewable energy production, and onshore oil and gas assets in the UK and Germany. The portfolio includes both operated and non-operated interests across the Southern, Central, and Northern North Sea, West of Shetland, and the Netherlands, with daily production reaching up to 25,000 boepd. The company has recently transitioned from a non-operating partner to a full upstream operator through landmark acquisitions of Shell and ExxonMobil's Southern North Sea assets and Deltic Energy's licence interests.

Differentiator

Problem solved

Functional benefit

Products and services

• North Sea Gas Production Natural gas extraction and production from offshore fields in the UK Continental Shelf (UKCS) and Netherlands North Sea, with working interests in over 60 fields and more than 70% of the portfolio consisting of gas assets; daily production under 25,000 BOEPD; gas sold primarily to the UK National Transmission system via the Bacton terminal.
• Bacton Gas Processing Terminal Onshore gas receiving and processing terminal in the Southern North Sea that processes natural gas from offshore fields and delivers it into the UK National Transmission system; can supply up to one-third of UK gas demand at peak and is being positioned as a potential energy transition hub for hydrogen production, carbon capture storage, and offshore wind integration.
• Wind Turbine Fleet 138 onshore wind turbines located mainly in East Anglia that generate over 0.5 GWh of clean electricity per year; electricity is sold under a green energy partnership to Ecotricity.
• Onshore Oil and Gas Assets Onshore oil and gas exploration and production assets in the UK (Whisby Oil Field, Duke's Wood, Brockham, Lidsey) and Germany (Mullheite commercial licence in Bavaria's Molasse basin), operated through subsidiary Terrain Energy.
• Southern North Sea Gas Asset Portfolio

Quantifiable outcome

• Contributes up to 9% of total gross daily UK gas production
• +3 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Nine partnerships are on record, tiered minor and core.

• Trees for CitiesminorOthers · 1 June 2025UK charity dedicated to creating greener, healthier urban environments by collaborating with local communities. Viaro supported mulching efforts for newly planted trees at Closes Park in Hillingdon.
• Commonwealth at 75minorGTM or Marketing Partner · 10 October 2024Viaro is an official partner of Commonwealth at 75, collaborating with St. James's House on a commemorative publication celebrating the 75th anniversary of the Commonwealth. The company contributed a piece on the UK energy transition at the official book launch.
• Portlethen Moss Conservation GroupminorOthers · 1 July 2024Collaboration with local charity in Aberdeenshire to develop the 'Viaro Sensory Garden'. The charity focuses on conservation and restoration of Portlethen Moss, a wetland habitat important for biodiversity and wildlife.
• Charity Partnerships (40+ organizations)minorOthers · 1 January 2024In 2024, Viaro worked with over 40 charities including Food Bank Aid, Somebody Cares, Cfine, The Childhood Trust, AberNecessities, and Connected Homelessness, supporting families with essential supplies, food security, and mental wellbeing initiatives.
• Kingston UniversityminorStrategic or Co-development Partner · 1 January 2020Viaro donated £10,000 funding to Kingston University for a project helping frontline healthcare workers overcome trauma through expressive writing techniques. The project was developed to help workers during the COVID-19 pandemic.
• SRM FoundationcoreStrategic or Co-development PartnerEstablished under Francesco Mazzagatti's vision to support research and innovation and promote awareness for a socially just energy transition. Partnership with Robert Gordon University in Scotland to guide the university toward net-zero goals and help students discover employment opportunities in the UK energy sector.
• Robert Gordon UniversitycoreStrategic or Co-development PartnerPartnership with SRM Foundation to guide the university to achieve its net-zero goals and help students discover employment opportunities in the UK energy sector.
• EcotricitycoreGTM or Marketing PartnerGreen energy partner purchasing electricity from Viaro's wind turbine fleet. Ecotricity is described as the first British energy company to offer green electricity to consumers.
• Offshore Energies UKminorOthersJillian Owen, Viaro's COO, serves as a Board Member of Offshore Energues UK, contributing to shaping industry policy and the future of the North Sea energy sector.

Scale indicators15 records

Recent moves6 records

Expansion highlights7 records

Broad incumbents

• SSE plc: UK-listed integrated utility that sold North Sea gas assets to Viaro for ~£120m. As a major UK energy company with gas-fired generation interests, SSE represents both a historical asset counterparty and comparable diversified energy player.
• Repsol Sinopec Resources UK: UK North Sea operator owned by major integrated oil companies (Repsol and Sinopec). Larger incumbent player operating similar North Sea upstream portfolio with comparable asset base.

Direct peers

• Spirit Energy: North Sea upstream operator with UK and Norwegian assets owned by Centrica and Stadtwerke München. Comparable operator profile with mature North Sea gas assets.
• BlueNord: Danish-listed upstream operator focused on Norwegian and Danish North Sea gas production. Comparable gas-weighted North Sea portfolio with similar operational characteristics.
• Waldorf Production: UK North Sea independent operator focused on mature field operations. Directly comparable operating model focused on extending life of mature UKCS assets.
• Harbour Energy: Largest UK-listed independent North Sea oil and gas operator with significant UK Continental Shelf production. Direct competitor for North Sea acquisitions and operates similar upstream gas-weighted portfolio.
• EnQuest: UK-listed North Sea oil and gas producer operating across UKCS with focus on mature field redevelopment. Comparable asset profile and operating model in UK North Sea upstream segment.
• Ithaca Energy: North Sea-focused upstream operator with significant UK production. Direct competitor for UKCS asset acquisitions and shares operational geography and customer base with Viaro.
• Serica Energy: UK North Sea independent with operated and non-operated interests. Recently active in North Sea M&A, comparable in scale and asset profile to Viaro's UKCS portfolio.
• Neptune Energy: European upstream operator with significant North Sea production including UK and Netherlands. Comparable European geographic footprint and gas-weighted portfolio.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/ViaroEnergy?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor
• LinkedInlinkedin.com/company/viaro-energy

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Viaro Energy