Neptune Energy Commences Production On Duva Development

Operator Neptune Energy and its partners Idemitsu Petroleum Norge, PGNiG Upstream Norway and Sval Energi today announced the safe and successful start-up of production from the Duva development in the Norwegian sector of the North Sea.

Duva was developed as a subsea installation with three oil producers and one gas producer, tied back to the Neptune Energy-operated Gjøa semi-submersible platform.

To maximise efficiency, Duva was executed in parallel with the Gjøa P1 development which began production in February this year.

Neptune Energy’s Managing Director in Norway, Odin Estensen, said: “Duva is an excellent example of a successful fast-track development, with production beginning less than five years after its discovery. Tied back to existing infrastructure, it has been delivered efficiently and under budget through strong collaboration with our partners and key suppliers, and is expected to have *one of the lowest CO2 emissions per produced barrel of oil equivalent (boe) on the Norwegian Continental Shelf.

“The start-up of Duva further strengthens Neptune’s position in the northern part of the North Sea, a strategically important growth area for the global business.”

Duva is located 14 km northeast of the Neptune Energy-operated Gjøa field at a water depth of 340 metres. Estimated total reserves are 71 million boe, of which 56 % is gas. It will add approximately 30 kboepd (gross) to the Gjøa facility at plateau.

Electrified with hydropower from shore, CO2 emissions per produced barrel of oil equivalent (boe) on the Gjøa platform are *less than half the average on the Norwegian Continental Shelf.

Neptune Energy’s Projects and Engineering Director in Norway, Erik Oppedal, added: “The Duva field is expected to produce for approximately 10 years and thus contribute to extending the life of the Gjøa platform.This will help lower production costs per barrel, adding significant value for licence partners and future tie-backs.”

A video of the development is available here: https://vimeo.com/571578736

Licence partners: Neptune Energy (30% and operator), Idemitsu Petroleum Norge (30%), PGNiG Upstream Norway (30%), Sval Energi (10%).

CO2-emissions from Gjøa are estimated at 3kg of CO2 per boe (EnvironmentHub (EEH); CO2 emissions and Diskos; Gross production incl. tie-ins, 2020), average on the Norwegian Continental Shelf is 8 kg CO2/barrel (NOROG Miljørapport 2020).

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 142,000 net barrels of oil equivalent per day in 2020 and 2P reserves at 31st December 2020 of 601 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. For more information, visit www.neptuneenergy.com.

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 two operated development projects: Fenja and Duva. In 2020, the company made the Dugong discovery, which is now being considered for development. 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 81 licences. For the full year 2020, Neptune produced 55 kboepd in Norway.