Neptune Energy announced the award of a new contract to TechnipFMC for the performance of technical services in Norway.

The Technical Service Agreement (TSA) builds on an existing contract which has been optimised to fit Neptune’s future requirements.

TechnipFMC will continue to provide a wide range of engineering, studies and technical services to Neptune Energy. This includes installation work and operational support for Neptune’s development projects and producing fields.

Neptune Energy’s Director of Projects & Engineering in Norway, Erik Oppedal, said: “The extended contract will build on the experiences from recent years’ close collaboration between Neptune and TechnipFMC, above all their contribution to the successful development of the Neptune operated Fenja, Duva and Gjøa P1 fields.”

Neptune Energy is the operator of the Gjøa platform in the North Sea, which currently acts as a hub for three subsea fields - Gjøa, Vega and Duva. A fourth field, WintershallDea’s operated Nova, is due to be tied back for production later this summer. Neptune Energy also operates the Fenja development project in the Norwegian Sea.

Jonathan Landes, President, Subsea at TechnipFMC, added: “We are delighted to have this opportunity to build on the success of our integrated approach, and further strengthen our long-term partnership with Neptune Energy.”

The new contract took effect from 1 July 2022 with a potential length of 5+ years.

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.

About TechnipFMC

TechnipFMC (NYSE: FTI) is a leading technology provider to the traditional and new energy industries, delivering fully integrated projects, products, and services.

With our proprietary technologies and comprehensive solutions, we are transforming our clients’ project economics, helping them unlock new possibilities to develop energy resources while reducing carbon intensity and supporting their energy transition ambitions.

Organized in two business segments — Subsea and Surface Technologies — we will continue to advance the industry with our pioneering integrated ecosystems (such as iEPCI™, iFEED™ and iComplete™), technology leadership and digital innovation.