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

The new licences 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 licences 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

Neptune 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 licences 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.

About Neptune Energy Norge AS

Neptune Energy Norge is a subsidiary of Neptune Energy. The company is the operator of three producing fields: Gjøa and Duva the North Sea, and Fenja in the Norwegian Sea. It is also a partner in several fields, amongst these are Snøhvit, Gudrun, Njord and Fram. Neptune Energy Norge is a participant in over 80 licences. For the full year 2022, Neptune produced 58 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 135,000 net barrels of oil equivalent per day in 2022 and 2P reserves at 31st December 2022 of 552 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.