News

2019 June 27 09:32

Neptune Energy confirmes its development plans for the Duva and Gjøa P1 projects in the North Sea

Neptune Energy confirmed its development plans for the Duva (PL636) and Gjøa P1 (PL153) projects in the North Sea have been approved by Norwegian authorities.

First production from the projects is expected in late 2020 with total recoverable resources estimated to be 120 million barrels of oil equivalent (boe) (maximum production is expected to be respectively 30,000 boe from Duva and 24,000 boe from Gjøa P1).

The fields will be developed through subsea tie-backs connecting two templates to the nearby Gjøa platform, operated by Neptune Energy Norge.

On behalf of the licence owners, Neptune Energy submitted development plans for the Duva (PL636) and Gjøa P1 (PL153) projects to Norwegian authorities on 21 February this year.

The Plan for Development and Operation (PDO) of the Duva field was submitted on behalf of the Duva partnership, which consists of Idemitsu Petroleum Norge (30%), Pandion Energy (20%), Wellesley Petroleum (20%) and Neptune Energy (30% and Operator). Duva’s recoverable resources are estimated to be 88 million boe and it’s expected to yield around 30,000 boe per day at maximum production. Developed with a four-slot subsea template, the Duva field will be tied back to the Gjøa platform for processing and export. The field will have three production wells, two oil producers and one gas producer, with the potential for an additional oil well.

As the P1 segment was already covered by the development plan for the Gjøa field, an application for exemption from PDO was submitted on behalf of the Gjøa licence partners, consisting of Petoro (30%), Wintershall (20%), OKEA (12%), DEA (8%) and Neptune Energy (30% and Operator). P1’s recoverable resources are estimated to be 32 million boe and it is expected to yield around 24,000 boe per day at maximum production.

The subsea tie-backs will be delivered by TechnipFMC utilising the Neptune Subsea Alliance Agreement, the drilling operations will be undertaken by Odfjell and topside modifications completed by Rosenberg Worley.

About Neptune Energy Norge AS

Neptune Energy Norge is a subsidiary of Neptune Energy. The company is the operator of the Gjøa field in the North Sea. It has three operated development projects: Fenja, Duva and P1. The Company is a partner in several producing fields: Bauge (under development), Brage, Draugen, Fram, Gudrun, Hyme, Ivar Aasen, Njord and Snøhvit. Neptune Energy Norge is a participant in a total of 75 licences. For the full year 2018, Neptune produced 77.8 thousand boe per day in Norway.

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 thousand net boe per day in 2018 and 2P reserves at 31st December 2018 of 638 million boe. The Company, founded by Sam Laidlaw, is backed by CIC and funds advised by Carlyle Group and CVC Capital Partners.