Neptune Energy announced drilling has commenced on the Ofelia exploration well in the Norwegian sector of the North Sea.

The well, 35/6-3 S, is being drilled by the Deepsea Yantai, a semi-submersible rig, owned by CIMC and operated by Odfjell Drilling. The Ofelia prospect is located 13 kilometres north of the Gjøa field within the Neptune-operated PL929 Licence.

In the event of a commercial discovery, the Ofelia prospect could be tied back to the Neptune-operated Gjøa platform and produce at less than half the average carbon intensity of Norwegian Continental Shelf fields 1.

Neptune Energy’s Director of Subsurface in Norway, Steinar Meland, said: “Ofelia is an interesting prospect and fits our exploration strategy of focusing on opportunities within core areas near existing infrastructure.

“In case of a discovery, Ofelia could potentially be developed in parallel with Hamlet 2, resulting in a low cost and carbon efficient development.”

Ofelia is positioned in one of Neptune’s core areas and close to existing infrastructure. The reservoir target is the Lower Cretaceous Agat Formation and is expected to be reached at a depth of approximately 2,570 metres.

The drilling program comprises a main-bore (35/6-3 S) with an optional side-track (35/6-3 A) based on the outcome of the exploration well.

Partners: Neptune Energy (operator, 40%), Wintershall Dea (20%), Lundin Energy Norway* (10%), Pandion Energy (20%) and DNO (10%)
* Lundin Energy Norway is a fully owned subsidiary of Aker BP as of July 30 2022.

(1) CO2emissions 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).
(2) Press release: Neptune Energy confirms oil & gas discovery at Hamlet

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.