Neptune Energy News

Neptune Energy and its joint venture partners BP and JAPEX announced the beginning of the subsea construction phase of the Seagull tie-back project. Seagull is a high-pressure, high-temperature (HPHT) development located in the Central North Sea on UK license P1622 Block 22/29C, 17km south of the BP-operated ETAP Central Processing Facility (CPF). Proved plus probable gross reserves are estimated at 50 million boe. Apache II pipelay vessel TechnipFMC has deployed the Apache II pipelay vessel...

Lumens was most recently Group Chief Financial Officer at Louis Dreyfus Company. Prior to that, he spent 20 years with Shell in various senior financial roles, among which he was a Chief Financial Officer of Shell Trading and Supply. According to the oil company, Neptune’s current CFO Peter Thomas will assist with the transition and remain involved with the future development and growth of the company. Neptune management team Sam Laidlaw, Executive Chairman of Neptune, said: “I&rs...

Rosenberg WorleyParsons won a contract for the construction and installation of a new Nova topside module on the Gjøa platform in the North Sea in May 2018 and the first steel was cut at its yard in Stavanger, Norway on Wednesday, November 14. Neptune said on Wednesday that the approximately 800-ton heavy module will in two years be lifted on board Neptune Energy’s Gjøa platform, enabling production from the nearby Nova field. This follows the approval by the Norwe...

Neptune Energy has been awarded four new licenses, three as operators, in the Awards in Predefined Areas (APA) 2023, announced by the Norwegian Ministry of Energy. The new licenses are all located close to existing infrastructure in the Gjøa area of the Norwegian North Sea, where Neptune already has a presence, reflecting the company’s exploration strategy to focus on key opportunities within core areas. Awarded licenses PL1213 S (40% and operator) in the Gjøa area PL12...

Sval, Storegga, and Neptune have formed a partnership to apply for a CO2 storage license in the Norwegian North Sea for the Trudvang project. The Trudvang license, located to the East of the Sleipner field, has the potential to store up to 225 mn tonnes of CO2 and comes after the Norwegian Ministry of Petroleum and Energy announced a new area in the North Sea for applications related to injection and storage of CO2. Assessment of the CCS value chain Truls Olsen-Skåre, Senior Vice Presid...

Horisont Energi and Neptune Energy have signed a Memorandum of Understanding (MoU) with the international energy major - E.ON with the aim to develop a European carbon capture and storage (CCS) value chain.  The MoU covers several areas such as project financing, funding, and the development of a complete value chain for CO2 handling. If Horisont Energi´s and Neptune Energy´s application for CO2 storage for the Errai project is awarded, the intention is that this will be the fi...

Neptune Energy announced a £100,000 donation to Sheltersuit UK to help rough sleepers in winter. The donation will fund around 1,500 Shelterbags, which provide protection from the elements and support the salaries of two Sheltersuit employees who came to the UK as refugees. It’s the second year Neptune has provided financial support to Sheltersuit UK, which said it is facing unprecedented demand. Official figures have revealed a dramatic increase in the number of rough sleepers acro...

Neptune Energy has called on the UK Government to support regulatory changes to the country’s gas entry specifications to deliver domestic gas to households and businesses from 2023. In the longer term, revising the specification could unlock enough gas to heat more than 12 million UK homes for a whole year. Ministers are due to receive the Health and Safety Executive’s recommendations on changes to the Gas Safety (Management) Regulations 1996. five-year industry-wide consultation...

RWE and Neptune Energy announces that they have signed a Joint Development Agreement to develop the offshore green hydrogen demonstration project ‘H2opZee’ ahead of 2030. H2opZee is a demonstration project which aims at building 300 to 500 megawatts (MW) electrolyzer capacity far out in the Dutch North Sea, in order to produce green hydrogen by using offshore wind. The hydrogen will then be transported to land through an existing pipeline. Offshore energy transition The intention...

Neptune Energy has endorsed the World Bank’s Zero Routine Flaring by 2030 initiative, as further momentum grows behind emissions reduction efforts ahead of COP26. Launched in 2015 and led by the international finance group, the Zero Routine Flaring initiative brings together governments, companies, and development institutions to eliminate routine gas flaring in oil production no later than 2030. Emissions reduction targets According to the World Bank, endorsers of the scheme now accoun...

Neptune Energy announced it is working with Sheltersuit UK, a non-profit organization that creates products to protect homeless people from the elements, to help 350 people across the UK to stay warm this winter. The company has funded the supply of 300 Shelterbags and 50 Sheltersuits to support homeless people in London and Aberdeen, ahead of World Homeless Day this Sunday, October 10. The shelter bags and suits will be divided among homeless charities in both cities, including Aberdeen C...

Neptune Energy announced drilling has commenced on the Dugong Tail exploration well in the Norwegian sector of the North Sea. The Dugong Tail is being drilled by the Deepsea Yantai, a semi-submersible rig, owned by CIMC and operated by Odfjell Drilling. It is located within the Neptune-operated Dugong Production Licence (882). Neptune's commitment Neptune Energy's Director of Exploration & Development in Norway, Steinar Meland, said: "Dugong Tail represents an important geophysical calibr...

NEPTUNE Energy has announced a new partnership with the worldwide humanitarian landmine clearance organization, The HALO Trust, to further improve safety performance within both organizations. Neptune teams will demonstrate their systematic approach to incident management, root cause databases, and learning review techniques, gained from decades in the oil and gas industry, to their counterparts at HALO. Development of operational safety HALO will share how their use of training and care help...

Neptune Energy has announced a feasibility study into plans for a large-scale offshore Carbon Capture and Storage (CCS) project in the Dutch North Sea, with the potential to safely store 120-150 million tons of CO2. Neptune will conduct the study in cooperation with its license partners and CO2 emitters. The study will assess the feasibility of injecting between five and eight million tonnes of CO2 annually into the depleted gas fields around the Neptune-operated L10-A, L10-B, and L10-E areas....

Oil and gas company - Neptune Energy has appointed Mohamed Mounes Shahat to take on the role of Egypt Managing Director, based in Cairo, starting December 2020. Mounes joins Neptune from Egypt’s Ministry of Petroleum, having most recently held the position of Minister’s Advisor for Gas Affairs, Neptune Energy said on Tuesday. Prior roles of Mounes With almost 40 years of experience, Mounes has a strong technical and commercial background With almost 40 years of experience, Mounes...

Oil and gas firm Neptune Energy is joining forces with charities to help tackle mental health issues and youth unemployment. Neptune, which has an office in Aberdeen, said COVID-19 had exacerbated both issues and issued a rallying cry for other companies and colleagues in the energy sector to provide additional support. Access support services Neptune will also support the charity’s Clic website by giving employees a chance to train as volunteers The private-equity-backed firm will tea...

Neptune Energy announced an agreement with Concedo AS for the acquisition of a further 5% interest in the Dugong license (PL882) in the Norwegian sector of the North Sea. On completion of the acquisition, Neptune will have a 45% interest in Dugong. The payment will be partly cash, partly carry of future costs and partly a contingent payment. Dugong discovery Volumes are estimated to be in the range of 40-120 million barrels of oil equivalent The Neptune-operated Dugong discovery is the large...

Neptune Energy and partners plan to develop in parallel the Duva oil and gas field and an extension designated P1 of the Gjoa oil and gas field in the Norwegian North Sea with subsea completions tied back to the Gjoa platform on PL153 (OGJ Online, Oct. 2, 2018). Neptune Energy Norge operates both fields, where the water depth is about 360 m. It seeks to develop Gjoa P1 under the plan for development and operation (PDO) covering the Gjoa license, for which it is the operator, as a northern exten...

Neptune Energy has announced the appointment of Eko Lumadyo as Managing Director of its Indonesian business, based in Jakarta. Mr. Lumadyo will join Neptune from Mandala Energy Indonesia, where he is currently Country President and General Manager. Prior roles of Lumadyo Lumadyo has more than 30 years of experience in upstream oil and gas exploration  Mr. Lumadyo has more than 30 years’ experience in upstream oil and gas exploration, development, planning, operations and comme...

Neptune Energy announces the appointment of Odin Estensen as Managing Director of its Norwegian business, based in Stavanger. Mr. Estensen joins NeptuneEnergy from A/S Norske Shell, where he is currently the Norway Operated Asset Manager. With more than 28 years’ experience in the oil and gas sector, Mr. Estensen started his career with Schlumberger before joining Shell in 1990, where he went on to hold various senior roles across Europe, and also to support operations in the Middle East,...

The transaction adds three producing fields, two development projects and 42 licenses to Neptune Energy’s existing portfolio. The VNG Norge asset base is complementary to Neptune Energy’s existing Norwegian portfolio, strengthening its equity position in the greater Njord area to 22.5 percent in Njord itself as well as a 30 percent interest in, and operatorship of the Fenja development project. Neptune’s Energy’s portfolio Fenja is a subsea development, which will prod...

Neptune Energy Group has announced the closing of the acquisition of VNG Norge AS, as signed on June 28. The transaction adds three producing fields, two development projects and 42 licenses to Neptune Energy’s existing portfolio, consolidating the company among the top five independent producers on the Norwegian Continental Shelf, by equity production. VNG Norge asset Fenja is a subsea development, which will be produced as a tie-back to the Njord production hub The VNG Norge asset ba...

David joins Neptune from Rothschild & Co where he most recently held the position of Managing Director in the Energy and Power Team with a focus on the oil and gas sector. He has a track record advising Board and Executive Directors on some of the largest and most complex transactions in the sector for over 20 years, having previously been with Dresdner Kleinwort Benson (later Wasserstein) and Bank of America. His international experience includes activity in Europe, Africa, Asia and FSU ac...

Neptune Energy Group announced that it has entered into a Sale and Purchase Agreement to acquire 100% of the shares of VNG Norge AS from VNG AG, the German natural gas wholesaler and energy service provider. Acquisition detail VNG Norge portfolio provides a high-quality bolt-on acquisition in one of Neptune’s key jurisdictions The VNG Norge portfolio provides a high-quality bolt-on acquisition in one of Neptune’s key jurisdictions, with a complementary set of assets in s...

Neptune Energy Group, is pleased to announce the completion of the acquisition of ENGIE E&P International SA (“EPI”). The transaction sees Neptune become an international independent E&P company across the North Sea, North Africa and South East Asia, producing 154,000 net barrels of oil equivalent per day in 2017. Neptune’s new global platform offers a sustainable asset base throughout the E&P value chain, a good balance of oil and gas and with low operating costs....

Neptune Energy announced the appointment of Pierre Girard to the newly created role of Director of New Energy. Neptune announced in August the formation of a New Energy team to scale partnerships and investments in low-carbon technologies, particularly hydrogen, CCS, and electrification. Prior roles of Pierre Pierre is currently Director of Commercial and Joint Ventures, UK, and previously held the role of Interim Managing Director of Neptune’s UK business. He has more than 30 year...