Neptune Energy Extends Higher Gas Supplies To UK For This Winter

Neptune Energy and its partners today announced an extension of higher gas production from the Duva field in Norway, supplying enough gas to heat a further 550,000¹ UK homes per day.

In April, Norwegian authorities granted Neptune and the Duva licence partners a permit to temporarily increase gas production by 6,500 barrels of oil equivalent per day (boepd) until September. Under the new permit, the higher production rate will be maintained until the end of 2022.

Duva's overall production is around 40 kboepd, of which 15 kboepd is natural gas. Duva is tied back to the Neptune-operated Gjøa platform, and the gas is transported by pipeline to the UK’s St Fergus gas terminal.

Neptune Energy’s Managing Director in Norway, Odin Estensen, said: “We are pleased that we, together with our partners and in cooperation with Norwegian authorities, can maintain export of additional and much-needed volumes of gas to the UK this winter.”

Electrified with hydropower from shore, CO2 emissions per boe on the Gjøa platform are less than half the average on the Norwegian Continental Shelf.²

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

Duva licence partners: Neptune Energy (30% and operator), INPEX Idemitsu (30%), PGNiG Upstream Norway (30%) and Sval Energi (10%).

Gjøa licence partners: Neptune Energy (30% and operator), Petoro (30%), Wintershall Dea Norge (28%), OKEA (12%)

¹According to Ofgem, the average UK household has 2.4 people residents, and uses 8 kWh of electricity and 33 kWh of gas per day. This works out as an average of 242 kWh of electricity and 1,000 kWh of gas per month, or 2,900 kWh of electricity and 12,000 kWh of gas per year. (https://usave.co.uk)

²CO2-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 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 recently opened up two new subsea fields, Duva and Gjøa P1, tied back to the Gjøa platform. Neptune is the operator of the development project Fenja in the Norwegian Sea, and is partner in several producing fields, amongst these are Snøhvit, Gudrun, Njord and Fram. Neptune Energy Norge is a participant in a total of 81 licences. For the full year 2021, Neptune produced 46 kboepd in Norway.

About Neptune Energy Group
Neptune Energy is an independent global E&P company with operations across Europe, North Africa and Asia Pacific. The business had production of 130,000 net barrels of oil equivalent per day in 2021 and 2P reserves at 31st December 2021 of 604 million barrels of oil equivalent. Neptune aims to store more carbon than is emitted from its operations and the use of its sold products by 2030. 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