Neptune Energy Submits Development Plans For Duva And Gjøa P1

Neptune Energy has recently submitted development plans for the Duva (PL636) and Gjøa P1 (PL153) projects in the Norwegian sector of the North Sea. First production from the projects is expected in late 2020/early 2021. Total recoverable resources are estimated to be 120 million barrels of oil equivalent (Total of 54,000 barrels of oil equivalent per day at maximum production).

The fields will be developed as subsea tie-backs connecting two templates to the nearby Gjøa platform, operated by Neptune Energy Norge.

Odin Estensen, Managing Director of Neptune Energy in Norway, said: “This represents an important milestone for Neptune Energy and its partners. With these development plans, Neptune is entering a period of growth on the Norwegian shelf with a very high activity level. We already operate the Fenja development in the Norwegian Sea, with production expected to start up early 2021. Together with the Duva and Gjøa P1 projects, this is a unique project portfolio”.

About The Developments:

1. Plan for Development and Operation (PDO) of the Duva field (formerly called Cara). This is submitted on behalf of the Duva partnership, which consists of Idemitsu Petroleum Norge, Pandion Energy, Wellesley Petroleum and Neptune Energy. Duva’s recoverable resources are estimated to be 88 million barrels of oil equivalent and it’s expected to yield around 30,000 barrels of oil equivalent per day at maximum production.
   
   Developed with a four-slot subsea template, the Duva field will be tied back to the Gjøa platform for processing and export. The field will have three production wells, two oil producers and one gas producer, with the possibility of another oil well.
2. Application for exemption from PDO for the Gjøa P1 Segment Redevelopment Project. The P1 segment is already covered by the development plan for the Gjøa field. Gjøa P1 is regarded as a further development and extension of the Gjøa field focusing on increased exploitation. This application is submitted on behalf of the Gjøa license, which consists of Petoro, Wintershall, OKEA, DEA Norway and Neptune Energy. P1’s recoverable resources are estimated to be 32 million barrels of oil equivalent and it’s is expected to yield around 24,000 barrels of oil equivalent per day at maximum production.

Neptune Energy is the operator for both developments.

Erik Oppedal, Projects & Engineering Manager for Neptune Energy in Norway, said: “We have worked closely with our partners and suppliers to find concepts that both utilise existing infrastructure and maximise the value in the fields. The execution of the projects will take place in parallel, and will thus create synergies and reduce the cost for both development”.

Both subsea facilities will be tied back to the Gjøa platform.

The sea depth in the area is about 360 meters. The Gjøa field has been in production since 2010, and is today amongst the top ten producers on the Norwegian Continental Shelf.

About The Duva field (PL 636)
The Duva field is located 6 kilometers northeast of the Gjøa field (12 kilometers from the Gjøa platform). The shortest distance to shore is 35 km. The discovery was made in production license 636 in August 2016 by drilling well 36 / 7-4.

License partners: Neptune Energy Norge (30% and operator), Idemitsu Petroleum Norge AS (30%), Pandion Energy AS (20%) and Wellesley Petroleum AS (20%).

About The Gjøa field (PL 153)
The Gjøa field was discovered in 1989, and a PDO was delivered and approved by the Norwegian authorities in 2007. The field is developed with five subsea templates tied to the Gjøa Semi-Submersible for processing and export. Production started in 2010. Oil is exported by pipeline to Mongstad and gas by pipeline to St. Fergus in the UK. The Gjøa P1 segment is located in the northern part of the Gjøa field.

License partners: Neptune Energy Norge (30% and operator), Petoro AS (30%), Wintershall Norge AS (20%) OKEA (12%) and DEA Norge AS (8%).

About Neptune Energy Norge
Neptune Energy Norge is a subsidiary of Neptune Energy. The company is the operator of the Gjøa field which had a production of 11.0 million barrels of oil equivalent in 2017. It has three operated development projects: Fenja, Cara and P1. 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 68 licences on the NCS.

About Neptune Energy
Neptune Energy is an independent global E&P company and, having completed the acquisition of the exploration and production business of the ENGIE group in February 2018, is now active across the North Sea, North Africa and Asia Pacific. The business had production of 160,500 net barrels of oil equivalent per day in the first three quarters of 2018 and 2P reserves at 31st December 2017 of 542 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.