Neptune hands in development plans for two North Sea projects
- Project & Tenders
Oil and gas company Neptune Energy has submitted development plans to Norwegian authorities for the Duva (PL636) and Gjøa P1 (PL153) projects in the Norwegian sector of the North Sea.
Neptune Energy is the operator for both developments. First production from the projects is expected in late 2020/early 2021.
Total recoverable resources are estimated to be 120 million barrels of oil equivalent (Total of 54,000 barrels of oil equivalent per day at maximum production).
The fields will be developed as subsea tie-backs connecting two templates to the nearby Gjøa platform, operated by Neptune Energy Norge.
Odin Estensen, Managing Director of Neptune Energy in Norway, said: “This represents an important milestone for Neptune Energy and its partners. With these development plans, Neptune is entering a period of growth on the Norwegian shelf with a very high activity level. We already operate the Fenja development in the Norwegian Sea, with production expected to start up early 2021. Together with the Duva and Gjøa P1 projects, this is a unique project portfolio.”
The Plan for Development and Operation (PDO) of the Duva field (formerly called Cara) was submitted on behalf of the Duva partnership, which consists of Idemitsu Petroleum Norge, Pandion Energy, Wellesley Petroleum, and Neptune Energy.
Duva’s recoverable resources are estimated to be 88 million barrels of oil equivalent and it’s expected to yield around 30,000 barrels of oil equivalent per day at maximum production. Developed with a four-slot subsea template, the Duva field will be tied back to the Gjøa platform for processing and export. The field will have three production wells, two oil producers and one gas producer, with the possibility of another oil well.
Gjøa P1 project
Neptune has also applied for exemption from PDO for the Gjøa P1 Segment Redevelopment Project. The P1 segment is already covered by the development plan for the Gjøa field. Gjøa P1 is regarded as a further development and extension of the Gjøa field focusing on increased exploitation.
This application is submitted on behalf of the Gjøa license, which consists of Petoro, Wintershall, OKEA, DEA Norway and Neptune Energy. P1’s recoverable resources are estimated to be 32 million barrels of oil equivalent and it’s is expected to yield around 24,000 barrels of oil equivalent per day at maximum production.
Both subsea facilities will be tied back to the Gjøa platform. The sea depth in the area is about 360 meters. The Gjøa field has been in production since 2010, and is today among the top ten producers on the Norwegian Continental Shelf.
Erik Oppedal, Projects & Engineering Manager for Neptune Energy in Norway, said: “We have worked closely with our partners and suppliers to find concepts that both utilize existing infrastructure and maximize the value in the fields. The execution of the projects will take place in parallel, and will thus create synergies and reduce the cost for both development.”
According to the Norwegian Petroleum Directorate (NPD), the investment into Duva development will amount to NOK 5.5 billion. The expected production time on Duva is 13 years.
Upon receiving the plans on Thursday, the Norwegian Ministry of Petroleum and Energy said that the overall investment costs for these two developments are about NOK 10 billion.