Extractive Industries

Neptune awarded four new licences in Gjøa area

Neptune Energy was today awarded four new licences, three as operator, located close to existing infrastructure in the Gjøa area of the Norwegian North Sea.

Confident: the new licences will contribute to both short-term and long-term barrels (stock photo)

SUSTAINABLE

The award comprises PL1213 S (40% and operator), PL1211 and PL1219 (each 50% and operator) and PL1217 (20% and partner).

Neptune is the operator of the Gjøa platform which serves as a hub for four producing fields.

The Norwegian Ministry of Energy granted the licences in the Awards in Predefined Area (APA) 2023 licensing round.

Managing director in Norway, Odin Estensen, said: “Neptune has over the past five years demonstrated its ability to convert exploration success into development and production in a safe, timely and cost-efficient manner.

“Through this latest licensing round, we continue to build a sustainable exploration portfolio in one of our core areas.”

Director of subsurface in Norway, Steinar Meland, added: “Over the last few years, we have had great exploration success in this region, and we feel confident that the new licences will contribute to both short-term and long-term barrels.”

The APA is held annually in mature areas on the Norwegian Continental Shelf.

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