Neptune Energy welcomes Equinor’s announcement of the start of production from the Bauge subsea field in the Norwegian Sea.

Recoverable resources are estimated at 50 million barrels of oil equivalent (boe).

Bauge is tied back to the recently upgraded Njord platform, operated by Equinor.

Neptune Energy’s Managing Director for Norway and the UK, Odin Estensen, said: “We congratulate Equinor for their safe and successful start-up of the Bauge field. Tied back to existing infrastructure, Bauge is an example of how a small discovery can become a profitable development.”

The Njord Area, which includes the fields Bauge and Hyme, will for Neptune provide net production of 20 kboepd.

Estensen added: “This makes Njord our second largest producing hub in Norway and is aligned with our strategy to foster production with low unit cost and low CO2 intensity.”

The platform is also currently preparing to receive production from the Neptune-operated Fenja field later this month.

Neptune Energy has a 12.5% owner share in Hyme and Bauge, and 22.5% in the Njord unit.

About Neptune Energy Norge AS

Neptune Energy Norge is a subsidiary of Neptune Energy. The company is the operator of two producing fields: Gjøa and Duva the North 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.

About Equinor

Equinor (OSE:EQNR, NYSE:EQNR), is an international energy company with a proud history. Formerly Statoil, we are 20,000 committed colleagues developing oil, gas, wind and solar energy in more than 30 countries worldwide. We’re the largest operator in Norway, among the world’s largest offshore operators, and a growing force in renewables. Driven by our Nordic urge to explore beyond the horizon, and our dedication to safety, equality and sustainability, we’re building a global business on our values and the energy needs of the future.