Neptune Energy Group Holdings Ltd.

01/19/2021 | Press release | Distributed by Public on 01/19/2021 03:30

Neptune Energy awarded six licences in Norway

19/01/2021

Neptune Energy today announced it has been awarded a total of six new licences in the Awards in Predefined Areas (APA) 2020, announced by the Norwegian Ministry of Petroleum and Energy. 

Neptune Energy has been awarded four licences in the Norwegian North Sea and two licences in the Norwegian Sea. All the licences are located close to existing infrastructure in areas where Neptune already has a presence, and according to its exploration strategy to focus on key opportunities within existing core areas.

In three of the licences Neptune has been awarded operatorship.

Neptune Energy's Managing Director in Norway, Odin Estensen, said: 'We are very pleased with the APA 2020 awards. Through this licensing round, Neptune Energy continues to build a sustainable exploration portfolio in our core areas.

'The awards strengthen Neptune Energy`s growing position in Norway and emphasise the importance of the Norwegian Continental Shelf within our global portfolio.'

The awarded licences are:

Norwegian North Sea (4):
• PL1096 (20% and Partner)
• PL1105S (50% and Operator)
• PL1107 (40% and Operator)
• PL1110 (30% and Partner

Norwegian Sea (2):
• PL1112 (20% and Partner)
• PL1113 (40% and Operator)

Neptune Energy's Director of Subsurface in Norway, Steinar Meland, added: 'This year's APA success shows that area knowledge, technology and organisational excellence deliver value to Neptune, particularly in this challenging period for our industry.

'We are very pleased with the six awards in all our three core areas. It's especially exciting to have been awarded licence PL1107 close to Dugong, where we made one of last year's largest discoveries and where we within a few weeks' time will drill an additional appraisal well.'

The Awards in Predefined Areas (APA) licensing round is held once a year in mature areas on the Norwegian Continental Shelf.

- ends -

For media inquiries:
Liv Jannie Omdal
+47 97 66 71 37
[email protected]

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 2019, Neptune produced 67 kboepd in Norway.

About Neptune Energy Group
Neptune Energy is an independent global E&P company with operations across the North Sea, North Africa and Asia Pacific. The business had production of 144,000 net barrels of oil equivalent per day in 2019 and 2P reserves at 31st December 2019 of 633 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.

More information: www.neptuneenergy.com