• 2019 October 14 18:06

    Neptune Energy acquires North Sea assets from Energean

    Neptune Energy has entered into a conditional Sale and Purchase Agreement with Energean Oil and Gas to acquire Edison E&P’s UK and Norwegian producing, development and exploration assets for an initial cash consideration of $250 million1. The purchase is contingent on Energean completing its proposed acquisition of Edison E&P.

    The portfolio will provide Neptune with material growth in contingent resources, an estimated 30 million barrels of oil equivalent (mmboe) of 2P reserves and near term production in core areas of the North Sea close to infrastructure. It includes:

     Glengorm gas condensate discovery (25 per cent WI) in the UK’s Central North Sea, close to Neptune’s operated Seagull project. Glengorm is an additional contingent resource.

     Nova gas development project (15 per cent WI) in the Norwegian North Sea: Nova is being developed as a subsea tie-back to the Neptune-operated Gjøa field. Production is expected from 2021, with estimated net 2P reserves of more than 11 mmboe.

     Dvalin (10 per cent WI) gas development project in the Norwegian North Sea: developed as a subsea tie-back to Heidrun, the four gas wells are expected to be drilled from the end of 2019, with first gas expected by the end of 2020. Net 2P reserves are estimated at more than 11 mmboe.

     Scott (10.5 per cent WI) & Telford (15.7 per cent WI), Tors (68 per cent WI), Wenlock (80 per cent WI) and Markham (3.1 per cent WI): combined incremental non-operated production of 3,000 barrels of oil equivalent per day (boepd) in 2019. Tors is strategically important to the Neptune-operated Cygnus field due to the shared export route.

    The transaction is subject to customary regulatory approvals, with completion expected early in 2020.

    About Neptune Energy

    Neptune Energy is an independent global E&P company with operations across the North Sea, North Africa and Asia Pacific. Neptune had production of around 160,000 net barrels of oil equivalent per day in 2018 and 2P reserves at 31st December 2018 of 638 million barrels of oil equivalent. The Company, founded by Sam Laidlaw, is backed by CIC and funds advised by Carlyle Group and CVC Capital Partners.




2019 November 13

18:07 LR and Seabury Maritime partner to tackle OPEX and CAPEX challenges
17:55 Gasum acquires AGA’s Clean Energy business and Nauticor’s Marine Bunkering business from Linde AG
17:36 Rolls-Royce and luxury yacht manufacturer Sunseeker sign frame agreement for MTU engines
17:18 Next-generation controller platform ‘Triton’ successfully passes TAT in Japan using latest ME-engine control system
17:04 LNG market expectations will be framed at the 6th International LNG Congress
16:54 Throughput of port Kaliningrad in Jan-Oct’2019 fell by 21% Y-o-Y to 9.34 million tonnes
16:28 Throughput of port Vyborg in Jan-Oct’2019 fell by 35% Y-o-Y to 1 million tonnes
16:03 MSC Cruises christens MSC Grandiosa
15:29 Innovative solutions for remote inspection: RINA and Kiber team up
15:03 Klaveness to focus their Dry Bulk operator activity on the Panamax to Post-Panamax segment
14:57 Throughput of port Vysotsk in Jan-Oct'2019 climbed by 5% Y-o-Y to 16.15 million tonnes
14:16 HHLA reports 4% growth in container volume to 5.7 million TEUs, revenue up 8.3% to 1 bn euros in Jan-Sept, 2019
13:33 Throughput of port Primorsk in Jan-Oct’2019 grew by 17% Y-o-Y to 51.84 million tonnes
13:12 Ten ports in the Nordic Region agreed upon a declaration focusing on sustainable port management
13:12 Cargo traffic in Ob-Irtysh Basin slightly down to 7.7 million tonnes
12:49 Port of Ust-Luga handled 87.49 million tonnes of cargo in 10M’19, up 7% Y-o-Y
12:24 Throughput of Port St. Petersburg in 10M'2019 grew by 2% to 50.00 million tonnes
12:00 EIB agrees to provide EUR 140 million to support expansion and upgrading of the Port of Piraeus
11:57 MPC Capital acquires stake in tanker specialist Albis Shipping & Transport
11:33 Port of Southampton welcomes MSC Grandiosa on her UK launch
11:08 Net profit of Commercial Port of Vladivostok for 9M’19 totaled RUB 4.64 billion, up 38.7% YoY
10:17 Port of San Diego to add seven alternative fuel vehicles to its work fleet
10:16 Environmental legislation on maritime transport will be reformed – focus on waste management
09:50 Bunker market at the port of Saint-Petersburg, Russia sees mixed price movements (graph)
09:32 Brent Crude futures price is down 0.37% to $61.83, Light Sweet Crude – down 0.33% to $56.61
09:25 MABUX: Bunker market this morning, Nov 13
09:14 Baltic Dry Index is up to 1,354 points

2019 November 12

18:06 Hapag-Lloyd to increase rates from China to Middle East including Red Sea
17:51 Admiral Makarov SUMIS participates in the international investigative project on oil spill response
17:36 Black Bear Carbon announces Port of Rotterdam as preferred location for new rCB plant in The Netherlands
17:20 Throughput of Russian seaports in 10M'2019 grew by 3.2% to 701.6 million tonnes of cargo (detalization)
17:06 MODEC, Mitsui, MOL and Marubeni to proceed with the deepwater FPSO charter project for Búzios field of Brazilian offshore pre-salt oil field
17:05 Peninsula Petroleum Group says is ready for IMO 2020
16:38 Metrans receives the first of ten new Vectron locomotives
15:59 New Joint Guidelines from ICS and OCIMF to improve safety in polar waters
15:31 Diesel submarine of RF Navy’s Pacific Fleet participates in exercised in the Sea of Japan
15:04 NMDC to complete fleet-wide conversion to Thordon seawater lubricated composite cutter shaft bearings
14:38 Krasnoye Sormovo delivers dry cargo carrier of Project RSD59, Aleksandr Sokolov
14:03 Damen Marine Components receives steering system contract for SunStone’s fifth Infinity-class 200 pax polar expedition cruise ship
13:35 Glavgosexpertiza of Russia approves survey findings under project for port construction on Novaya Zemlya
13:09 The Port of Gdansk connects Poland and Singapore
13:06 Bunker prices go down at the Far East ports of Russia (graph)
12:43 NMDC to complete fleet-wide conversion to Thordon seawater lubricated composite cutter shaft bearings
12:28 Admiral Makarov SUMIS confirmed unique competence in dynamic positioning operators training
11:44 RINA works with the National Technical University of Athens to support the future Young Engineers in Greece
11:19 IMO launches online tool to smooth reporting formalities
10:47 Montreal, Canada to host 16th Arctic Shipping Summit on 11-12 March 2020
10:25 Number of new watercraft registrations increasing in Finland
10:23 MABUX: Bunker market this morning, Nov 12
10:01 Hydrographic surveys in the Vuoksi river system to ensure safe navigation
09:42 Fleet Xpress agreement marks new stage in Bourbon digitalisation strategy for offshore
09:32 Brent Crude futures price is up 0.11% to $62.26, Light Sweet Crude – up 0.11% to $56.92
09:16 Baltic Dry Index is down to 1,345 points

2019 November 11

18:33 Alfa Laval opens new global Innovation & Test center outside Copenhagen
18:03 ABS issues industry-leading guide for firefighting for cargo areas of container carriers
17:54 Yantar shipyard launches lead rescue ship of Project 23700 named Voyevoda
17:48 Massterly and the future of autonomous shipping
17:25 Throughput of Russian seaports in 10M’19 grew by 3.2% to 701.48 million tonnes
17:03 Wärtsilä and PSA Marine achieve breakthrough in IntelliTug project
16:44 University of Rochester create a metallic structure that won't sink