Neptune Energy issues update on its E&P activities

March 22, 2022
Neptune Energy has issued an update on its E&P activities offshore northwest Europe in its latest results statement.

Offshore staff

LONDON – Neptune Energy has issued an update on its E&P activities offshore northwest Europe in its latest results statement.

In Norway, onshore construction activities for the upgraded Njord A FPU are close to completion, with sail-away anticipated during Q2. Operator Equinor is working towards start-up in Q4, following offshore commissioning.

Last year the subsea infrastructure was installed for Neptune’s operated Fenja tieback to Njord, and the second development drilling campaign is under way. Production should begin in H1 2023.

As for the company’s Seagull-ETAP tieback in the UK central North Sea, the first two wells have been drilled. Early this year a flotel was connected to the bp-operated ETAP host facility and the first well was completed and tested.

Spool tie-ins should start next month, with drilling of the remaining two wells likely to be completed before the end of the year. First production from Seagull should follow in the first half of 2023.

This year Neptune plans to drill up to 11 exploration and appraisal wells. In Norway it is participating in three wells, including the Ofelia and Hamlet prospects (both within tie-back distance to the Gjøa platform in the North Sea) and Calypso, a potential tie-back to Njord or the Draugen platform.

In the UK central North Sea, TotalEnergies should spud the high-impact Isabella appraisal well in the second half of 2022.

Neptune plans four wells in the Dutch North Sea, including the deferred F5-A, with follow-up potential in the F5-B prospect.

In the central Gulf of Suez offshore Egypt, the company plans to drill the Yakoot prospect in the North West El Amal concession in Q4.

It is also progressing planning for a potentially high-impact exploration drilling campaign offshore Indonesia in 2023, which could lead to a new hub development.

Neptune has signed a joint development agreement with RWE Renewables for the H2opZee project in the Dutch North Sea, which targets production of green hydrogen with wind energy and transportation through existing pipeline infrastructure.

Plans call for an initial 300-500 MW of generating capacity is planned, with a pipeline to enable a future increase to 10-12 GW. Later this year the company expects to completed detailed design for its PosHYdon offshore green hydrogen pilot, also in the Dutch sector.