Oil & Gas News

Neptune Energy Awarded Four New Licenses in the Norwegian North Sea

Neptune Energy has been awarded four new licenses, three as operator, in the Awards in Predefined Areas (APA) 2023, announced by the Norwegian Ministry of Energy.

The new licenses are all located close to existing infrastructure in the Gjøa area of the Norwegian North Sea, where Neptune already has a presence, reflecting the company’s exploration strategy to focus on key opportunities within core areas.

The awarded licenses are:

  • PL1213 S (40% and operator) in the Gjøa area
  • PL1211 (50% and operator) in the Gjøa area
  • PL1219 (50% and operator) in the Gjøa area
  • PL1217 (20% and partner) in the Gjøa area

NeptuneEnergyLogoNeptune Energy’s Managing Director in Norway, Odin Estensen, said: “Neptune has over the past five years demonstrated its ability to convert exploration success into development and production in a safe, timely and cost-efficient manner. Through this latest licensing round, we continue to build a sustainable exploration portfolio in one of our core areas.”

Neptune is the operator of the Gjøa platform which serves as a hub for four producing fields.

Neptune’s Director of Subsurface in Norway, Steinar Meland, added: “We are pleased to have been awarded three operatorships and one partnership in the vicinity of our operated Gjøa area. Over the last few years, we have had great exploration success in this region, and we feel confident that the new licenses will contribute to both short-term and long-term barrels.”

The APA licensing round is held once a year in mature areas on the Norwegian Continental Shelf.

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