Neptune Energy has been granted two new licences in the Norwegian North Sea through the the Awards in Predefined Areas (APA) 2023.
KEY OPPORTUNITIES
The grant includes PL1180 (40% and operator) in the Gjøa area and PL1179 (15% and partner) in the Fram area.
Both are close to existing infrastructure in areas where Neptune already has a presence, reflecting the company’s exploration strategy to focus on key opportunities within core areas.
“Neptune has continued to demonstrate its ability to convert exploration success into development and production in a safe, timely and cost-efficient manner,” said managing director in Norway and the UK, Odin Estensen.
“Through this latest licensing round, we continue to build a sustainable exploration portfolio in our core areas.
“These licence awards further strengthen Neptune`s growing position in Norway and emphasise the importance of the Norwegian Continental Shelf to our global business.”
APA LICENSING ROUND
The APA licensing round, announced by the Norwegian Ministry of Petroleum and Energy, is held once a year in mature areas on the Norwegian Continental Shelf.