Neptune Energy has joined the Extractive Industries Transparency Initiative (EITI) designed to improve accountability for revenues paid and received for a country’s oil, gas and mineral resources. PUBLIC AWARENESS Signatories commit to reporting transparently their operations in EITI-supporting countries to help inform policymakers and raise standards of governance. “We are proud to help uphold the […]
ESG
Neptune-Spirit start production from tenth Cygnus well
Joint venture partners Neptune Energy and Spirit Energy have started production from the tenth well at the Cygnus gas field in the UK Southern North Sea. EMISSIONS Operator Neptune (38.75%) said yesterday that drilling was carried out by Borr Drilling’s Prospector 1 jack-up rig. The rig is the first in Borr’s fleet to be equipped […]
Block maintains steady revenue and production
Block Energy plc reported a slight dip in production and marginal increase in revenue for the fourth quarter of operations at its oil and gas assets in Georgia. FINANCES The company’s operations report for the three months ended 31 December 2022 showed revenue of US$1,840,400 (Q3: $1,833,000). Block Energy sold 21.3 Mbbls of oil (Q3: 17.9 Mbbls) for $1,691,400 (Q3: $1,614,000), at a weighted […]
Neptune to use offshore wind for North Sea assets
Neptune Energy hopes to extend the life of its producing fields by powering new integrated energy hubs in the UK North Sea with offshore wind-generated electricity. INTEGRATED ENERGY HUBS The company today signed a memorandum of understanding with Ørsted and Goal7 to examine the potential of supplying renewable electricity from Ørsted’s Hornsea offshore windfarm projects […]
FCM publishes inaugural ESG policy statement
First Class Metals plc (FCM) has published its inaugural environment, social and governance (ESG) policy statement for its Canadian Schreiber-Hemlo landholding and the Sunbeam project. FIVE PILLARS The 2022 statement comprises five pillars of responsible stewardship, being a strong partner for local communities, an enabler of the energy transition, ensuring safe workplaces and operations, and […]
NSTA sanctions EnQuest and fines Spirit
EnQuest plc and Spirit Energy Ltd are two of three operators fined a total £265,000 for breaches in operations by the North Sea Transition Authority (NSTA). PENALTIES EnQuest was sanctioned and fined £150,000 for flaring an excess 262 tonnes of gas on the Magnus field between 30 November and 1 December 2021 “despite knowing that […]