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

The Dugong Tail is being drilled by the Deepsea Yantai, a semi-submersible rig, owned by CIMC and operated by Odfjell Drilling. It is located within the Neptune-operated Dugong Production Licence (882).

Neptune Energy’s Director of Exploration & Development in Norway, Steinar Meland, said: “Dugong Tail represents an important geophysical calibration point for the licence, with the potential to unlock further prospectivity in the region.

“This positive activity demonstrates Neptune’s commitment to investing in Norway, underlining the importance of the country to our global portfolio.”

Dugong Tail is located 120 kilometres west of Florø, Norway, at a water depth of 320 metres, and is close to the existing production facilities of the Snorre field. The reservoir lies at a depth of 3,200 - 3,500 metres.

The drilling program comprises a main bore with the potential for sidetracks, should hydrocarbons be encountered.

Dugong was one of the largest discoveries on the NCS last year. A recent Drill Stem Test (DST) of Dugong has now been completed and is currently under evaluation.

Partners
Neptune Energy (operator and 45%), Petrolia NOCO (20%) nd Idemitsu Petroleum Norge (20%) and Concedo (15%).

About Neptune Energy Group

Neptune Energy is an independent global E&P company with operations across the North Sea, North Africa and Asia Pacific. The business had production of 142,000 net barrels of oil equivalent per day in 2020 and 2P reserves at 31st December 2020 of 601 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.

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 has two operated development projects: Fenja and Duva. In 2020, the company made the Dugong discovery, which is now being considered for development. 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 81 licences. For the full year 2020, Neptune produced 55 kboepd in Norway.