Neptune highlights offshore drilling projects, production updates

Nov. 22, 2023
Neptune provides updates on its offshore projects in its latest results statement.

Offshore staff

LONDON — Neptune Energy expects Equinor to start operations at the Gudrun Field electrification project in the Norwegian North Sea later this year, the company said in its latest results statement.

Elsewhere in the sector, appraisal drilling continues on Neptune’s Ofelia discovery, the goal being to fully evaluate the potential in the Agat and secondary Kyrre formations. Ofelia could be a tieback to the company’s Gjøa platform.

Drilling of the Cerisa prospect should start early in 2024.

Production from the Neptune-operated Seagull Field development recently began in the UK central North Sea, hosted by the bp-operated ETAP host platform, with two more wells due to go onstream in 2024. Operatorship of Seagull has transferred to bp for the production phase.

Analysis of results from the latest well on TotalEnergies’ Isabella gas-condensate discovery is nearing completion. The license partners will decide on the forward plan shortly.

In the Dutch North Sea, Neptune is close to starting FEED for its L10 Carbon Capture and Storage project, pending approval for its offshore storage license application by the Ministry of Economic Affairs and Climate Policy.

The PosHYdon and H₂opZee green hydrogen projects are progressing, with the H₂opZee partners targeting a concept decision by year-end.

In September the company participated in the L11-16 Elliot exploration well, targeting a prospect adjacent to the recent Clover discovery. Earlier, a multi-well decommissioning program got underway in Dutch and UK waters.

To date, decommissioning of K12-S2 has been completed in the Dutch sector, with activities continuing at G14-B and L10-S2 ongoing and further programs in progress at D18-A and K9c-A.

Offshore Indonesia, operator Eni expects approval during the current quarter for its plan to develop the Maha gas accumulation as a two-well tieback to the Jangkrik FPU.

Offshore northern Australia, Neptune is assessing ways of improving the Petrel development, including the project economics, with an ROV survey completed in August over the existing Petrel wells. The company is awaiting renewal of the Petroleum Retention Lease WA-6-R pending a joint authority decision.

11.22.2023

Related

Courtesy Talos Energy's September 2023 Investor Update
talos_energy_upstream
Courtesy Neptune Energy
In late 2022, the UN’s Environmental Program awarded Neptune the Gold Standard status for its plans to cut methane emissions from its operations.

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