Neptune Energy to spend US$1 billion to support UK energy security
The company has announced it will spend more than US$1 billion over the next five years securing energy supplies for the UK and speeding the transition to net zero.
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The company has announced it will spend more than US$1 billion over the next five years securing energy supplies for the UK and speeding the transition to net zero.
The licences contain two firm wells on the Oswig and Velocette prospects anticipated to drill in the summer 2022 and 2Q23 respectively. All the licences are operated by OMV which will retain a 40% working interest post-transaction.
The companies have signed a MoU for transfer of the Krafla operatorship from Equinor to Aker BP, making Aker BP the operator of all discoveries in the NOAKA area.
The company has secured new renewable electricity supplies for its operated assets in Germany, reducing emissions by more than 11 000 t of CO2 per year.
The rig acquisition is expected to create around 100 jobs in a variety of onshore and offshore roles.
Work is continuing to confirm potential recoverable resources, but Neptune’s preliminary estimate is 8-24 million boe.
The Ministry of Petroleum and Energy (MPE) has extended the production licenses in the Greater Ekofisk Area from 2028 to 2048.
The project will boost production at the existing Maria field in the Norwegian Continental Shelf. The contract includes subsea trees, spools, jumpers, and flexible pipes.
Hod B in the North Sea will soon come on stream, thanks to an unmanned facility remote-controlled from the Valhall field.
The transaction will contribute to the optimisation of Maersk's fleet in line with the company's strategic priorities.
The drilling permit has been granted based upon the petroleum resource act paragraph 13.
Resources for the entire Cambozola prospect have been estimated at 159 million boe.