Neptune Energy and its licence partners announced that hydrocarbons have been encountered in the Calypso exploration well in the Norwegian Sea, located within the Neptune-operated PL938 Licence.

Having entered the reservoir, logs proved the presence of hydrocarbons. Additional data gathering of the reservoir will now be considered.

The operations in the reservoir section remain at an early stage and it has yet to be confirmed if commercial volumes are present.

The Calypso prospect is located within one of Neptune’s core areas on the Norwegian Continental Shelf, 14 kilometres north-west of the Draugen field and 22 kilometres north-east of the Njord A platform.

Calypso is being drilled by the Deepsea Yantai, a semi-submersible rig owned by CIMC and operated by Odfjell Drilling.

Partners: Neptune Energy (operator, 30%), OKEA ASA (30%), Pandion Energy AS (20%) and Vår Energi ASA (20%)

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.