Neptune Energy - Experts & Thought Leaders

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 to start the pipe-in-pipe installation TechnipFMC, working under the Neptune Energy Alliance Agreement, has deployed the Apache II pipelay vessel to start the pipe-in-pipe installation, laying 5 km of pipe connecting the Egret manifold to the Seagull development. Neptune Energy’s UK managing director, Alexandra Thomas, said: “Seagull is an important project for Neptune, its partners and the UK. It is expected to produce 50,000 boe per day (gross) and supports UK security of supply." first offshore execution Thomas added: “This is a key milestone for Seagull – the first step in offshore execution of the project. We continue to work with our contractors and suppliers, focussing on the safe deployment of people, vessels, and equipment and managing the challenges associated with the impacts of the ongoing COVID-19 pandemic.” TechnipFMC vice president, Commercial & Projects UK, Mediterranean & Caspian, Bill Morrice, said: “We are delighted to see the first offshore execution milestone on the project come to fruition. Despite the challenging backdrop of COVID-19, we have worked collaboratively with Neptune as one team to deliver our scopes to date both safely and efficiently." Relationship with Neptune Morrice added: “This comes as a result of the valuable contribution from our design, engineering, HSEQ, procurement and fabrication teams and we look forward to continuing our working relationship with Neptune to achieve the first oil at the Seagull development.” Neptune is the operator of Seagull and has a 35 percent equity interest. Its joint venture partners are BP with 50 percent and JAPEX with 15 percent.

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 Norwegian Ministry of Petroleum and Energy of Nova’s Plan for Development and Operations (PDO) on September 28. Wintershall’s Nova project Nova Field was discovered in 2012 and is situated on the northeastern Norwegian continental shelf It is also worth reminding that Aker Solutions in May started fabrication on Wintershall’s Nova project by cutting the first steel for subsea templates. The Nova field, operated by Wintershall, was discovered in 2012 and is situated on the northeastern Norwegian continental shelf, approximately 20 kilometers southwest of the Neptune Energy-operated Gjøa platform and about 120 kilometers northwest of Bergen. Field and water injection Nova will be developed as a subsea tie-back connecting two modules to the nearby Gjøa platform for processing and export. Gjøa will also supply lift gas to the field and water injection for pressure support. Arild Jåsund, Project Manager for Nova at Neptune Energy, said: “The un-stranding of additional volumes from Nova, by using existing Gjøa infrastructure, is not only significant for the Norwegian economy but also important in extending the production life of Gjøa itself. Furthermore, the Nova tie-in works represent the largest modification ever conducted on Gjøa, and provide Neptune Energy and our contractors the opportunity to prove our capabilities in managing major projects in a safe and an efficient way.” Nova field hydrocarbons Neptune said that the first steel is a major milestone in the work to prepare for production of the Nova field Neptune said that the first steel is a major milestone in the work to prepare for production of the Nova field through the Gjøa platform. During the next two years, Rosenberg WorleyParsons will complete construction of the Nova topside equipment, built for processing of Nova field hydrocarbons and to provide water injection facilities via the Gjøa platform. At peak the project will support engineering and construction work for approximately 300 people at Rosenberg WorleyParsons. Installation in 2020 From January 2019, preparations will start at Gjøa to receive the Nova module and other necessary equipment. In parallel with the work at Gjøa, Wintershall and its main contractors will complete the necessary underwater activities and riser installation so that three oil wells and three water injection wells are ready for use when the new module on Gjøa starts up.  In May 2020, the Nova module will be lifted on board Gjøa by a heavy lift vessel from Heerema Marine Contractors. Initial FEED stage Hjalmar Aslagsen, Project Manager at Rosenberg WorleyParsons, added: “Rosenberg WorleyParsons highly appreciates the trust shown to us by Neptune Energy and the Nova licence partners, through the initial FEED stage and into the EPCIC phase of this important project.” Gjøa license partners are Neptune Energy (30% and operator), A/S Norske Shell (12%), DEA Norge (8%), Petoro (30%) and Wintershall Norge (20%).

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’m delighted with that Armand is joining the Neptune management team. His deep knowledge and experience of energy and capital markets further strengthen the team for the next chapter of growth and demonstrate our ambition to be the pioneering international independent E&P company." “I am enormously grateful to Peter for the formative role he played in the company’s creation and the fundamental role he continues to play in its development. Without him, we would not be the successful company we are today.” Gas acquisition opportunities Neptune completed the announced purchase of VNG’s Norwegian subsidiary VNG Norge Private equity-backed Neptune was formed by Laidlaw, a former Centrica manager, back in 2015 to target oil and gas acquisition opportunities.  Late in September, Neptune completed the previously announced purchase of VNG’s Norwegian subsidiary VNG Norge for an undisclosed price. The deal was announced on June 28, and completed on Friday, September 28. Engie’s E&P business A month earlier, Neptune bought Apache’s 35% working interest in the Seagull development and a 50% working interest in the Isabella prospect; in the North Sea. The biggest acquisition by Neptune was completed in February this year when Neptune said it had wrapped up the previously announced acquisition of Engie’s E&P business, in a transaction valued around €4.7 billion.