Eni, Vaar Agree to Buy Neptune Energy in $4.9 Billion Deal
Italy's Eni ENI.MI and its Norwegian unit Vaar have agreed to buy private-equity backed Neptune Energy in a deal valuing the assets of the gas and oil producer at $4.9 billion including debt, the two groups said on Friday.The acquisition, which is expected to be completed at the start of next year, is one of the biggest oil and gas deals in Europe in years.The deal fits the Italian group's plan to increase the share of gas in its total hydrocarbon production and is expected to boost its earnings immediately…
Neptune Energy Starts Production from Gas Well in Germany
Oil and gas company Neptune Energy started production from its production from its operated Adorf Z17 gas well in the municipality of Georgsdorf, northwestern Germany.The Z17 well - in the Carboniferous formation - is expected to increase Neptune’s production from the Adorf licence by 1,800 barrels of oil equivalent per day to around 6,300 boepd. Construction of a dedicated processing plant at the site for treatment of the gas was also completed earlier this year.Neptune Energy’s Managing Director in Germany…
Carbon Capture & Storage: A New Lease of Life for Submarine Pipelines?
Since 2019, hydrogen and carbon capture and storage (CCS) have risen up the political agenda, globally, offering a route to decarbonization, as well as (more recently), increased energy security. Many are eying use of existing pipeline to make both happen. Elaine Maslin takes a look.Hydrogen production and CCS offers a more or less “green” decarbonization options for oil and gas companies, alongside carbon capture and storage (CCS), especially if existing offshore infrastructure could be reused to make it happen.
Neptune Energy Targets 2030 to Store More Carbon Than It Emits
With increasing pressure on the oil and gas industry to cut its emissions footprint, Neptune Energy said it aims to go beyond net zero and store more carbon than is emitted from its operations and the use of its sold products by 2030.According to the company, it is currently progressing a pair of carbon capture and storage (CCS) developments in the Dutch and UK sectors of the North Sea that it claims could store more than 9 million tonnes of carbon dioxide (CO2) emissions per year for third parties by the end of this decade…
World’s Longest [37 km] ETH Production Pipeline installed offshore Norway
Neptune Energy reports the installation and testing of the world’s longest traceheated subsea production pipeline at its operated Fenja field in the Norwegian sea.“Completing the installation and testing of the ETH pipe is a great technical achievement and a major step forward in the development of the Fenja field," said Erik Oppedal, Neptune Energy’s Director of Projects and Engineering in Norway. "The ETH pipe-in-pipe solution is crucial for extracting the oil…
Deme Offshore Joins Neptune's Hydrogen Project
Offshore installation contractor Deme Offshore has joined Neptune Energy's PosHYdon pilot, the world’s first offshore green hydrogen project, being developed in the Dutch North Sea.Part of the Belgian Deme Group, the company joins as a partner and will provide the hydrogen unit for installation on the Neptune-operated Q13a platform. The pilot aims to integrate three energy systems in the North Sea: offshore wind, offshore gas…
Neptune Energy Terminates Deal to Buy Edison's North Sea Business
Oil and gas company Neptune Energy has terminated the agreement to acquire Edison E&P’s UK and Norwegian subsidiaries from Energean Oil and Gas. Neptune will pay a $5 million termination fee to Energean.The two companies had last year agreed for Neptune to buy Edison E&P North Sea assets for up to $280 million, after Energean had previously agreed to buy the oil and gas division of Italian energy company Edison for up to…
Gasunie Joins Offshore Green Hydrogen Project
Energy infrastructure firm Gasunie has joined as a partner at the PosHYdon project - the first offshore green hydrogen pilot being worked on in the Dutch section of the North Sea.PosHYdon integrates three energy systems in the Dutch North Sea: offshore wind, offshore gas and offshore hydrogen and will involve the installation of the hydrogen-producing plant on the Neptune-operated Q13a platform.Gasunie, which manages and…
PGNiG Acquires Duva Field in Norway
PGNiG Upstream Norway, a subsidiary of Polish Oil and Gas Company (PGNiG), has obtained a final administrative consent to purchase additional 10% interests in the PL636 and PL636B licences in the North Sea.Following the transaction, PGNiG Upstream Norway’s (PUN) interests in both licences increased to 30%. As a result, the volume of Duva field gas production attributable to the Company will rise to 0.2 bcm per year.“Acquisition…
Stork Worley JV Wins Neptune Energy Gig
Stork Worley Integrated Solutions, a joint venture of American multinational engineering and construction firm Fluor Corporation, has secured a four-year framework agreement for EPCIC (engineering, procurement, construction, installation & commissioning) and decommissioning services for brownfield modification from Neptune Energy for its Dutch North Sea assets.Fluor will book its portion of the undisclosed contract value in the first quarter of 2020…
Pandion Energy Completes Duva Stake Sale
Norwegian oil and gas company Pandion Energy has completed the sale of its 10 percent non-operated interests in PL 636, comprising the Duva oil and gas field, and PL 686B.According to Pandion Energy it was previously announced transaction with Solveig Gas Norway AS.The Duva oil and gas field is located in the northern North Sea and was discovered in the autumn of 2016. The Plan for Development and Operation (PDO) was approved…
Solveig buys oilfield operator Capricorn from Cairn
Norwegian pipeline firm Solveig Gas has agreed to buy oil firm Capricorn Norge from Cairn Energy for $100 million, completing its transformation into a North Sea field operator, Solveig's owner HitecVision said on Wednesday.The private equity fund told Reuters earlier this year it aimed to turn Solveig into an integrated exploration and production company, using the cash flow from its gas pipelines to fund expansion.Cairn separately confirmed the deal…
PGNiG Ups Stake in Duva Field, Norway
PGNiG Upstream Norway bought 10 percent shares in the PL636 and PL636B licenses in the North Sea from Pandion Energy, thus increasing its ownership in the Duva field to 30 percent.Duva oil and gas field (formerly Cara) is located in the Norwegian sector of the North Sea at a water depth of 360m. The field is jointly owned by Idemitsu Petroleum Norge (30%), Neptune Energy Norge (30%, operator), Pandion Energy (20%) and Wellesley Petroleum (20%).“Increasing our share in the deposit…
Neptune Acquires German Oil & Gas Fields
UK-based Neptune Energy has agreed to acquire interests from Wintershall Dea in certain oil and gas fields in the Emsland and Grafschaft Bentheim regions in Germany.With this agreement, Neptune will increase its existing interest in the Bramberge, Meppen and Annaveen oil fields of the Emsland region, as well as various gas fields in the Grafschaft Bentheim region.Approximately 600 barrels of oil equivalent (boe) of daily…
Neptune Acquires Interests in Offshore Indonesia
Neptune Energy East Sepinggan, subsidiary of the European exploration and production company Neptune Energy has agreed to acquire interests from the Eni East Sepinggan Limited, a unit of Eni in the Kutei basin production sharing contracts (PSC) offshore Indonesia.According to a press release from the Italian multinational oil and gas company, it will continue to be the Operator of the area which is located in the East Sepinggan area…
Strike Would Cut Norway's Output 11%/Day
Norway's oil and gas output could be cut by about 440,000 barrels of oil equivalents per day, or about 11% of total production, if workers go on strike from June 4, industry association Norwegian Oil and Gas (NOG) said on Monday.A government-appointed mediator is leading negotiations between oil companies and employees represented by the Lederne union in a bid to avert a strike.Altogether nine fields would have to shut in the event of industrial action…
Norway Oil Workers Threaten Strike
Around 200 Norwegian offshore oil and gas workers plan to go on strike on June 4 unless pay negotiations lead to a deal with employers, the Lederne labour union said on Wednesday.A strike would hit seven offshore fields and at least two of those would have to shut production, cutting output by a combined 102,600 barrels of oil equivalent per day (boed), industry group Norwegian Oil and Gas (NOG) told Reuters.While Neptune Energy's Gjøa and Okea's Draugen fields would shut in the initial phase of a strike, it was not yet clea
Norway Investigates Hammerfest LNG Outage
Norway's oil regulator said on Friday it was investigating the causes of an outage earlier this month at Equinor's Hammerfest LNG plant in the north of the country.The plant converts natural gas produced from the Arctic Snoehvit field into liquid natural gas (LNG) which is exported by tankers."Equinor shut down the plant on 11 March 2019 in order to repair deficiencies in a number of safety valves there.
Neptune Renews IRM Contract with Sea Mar Shipping
Dutch offshore vessel operator Sea Mar Shipping has won a three-year plus 2 x one year options for its IRM (Inspection, Repair and Maintenance) vessel Sea Mar Splendid from Neptune Energy Netherlands.The vessel and crew will support Neptune Energy with its IRM campaigns on the Dutch Continental Shelf from March 2019 until 2021, said a release.The 59- metre long Sea Mar Splendid will be utilized for air diving support duties…
Shell, Eni, Exxon Win Concessions in Egypt
Royal Dutch Shell, Eni, BP and Exxon Mobil were among winners of Egypt's international tender for oil and gas exploration on Tuesday, with 12 concessions awarded in total.It marks Exxon Mobil's entry into gas exploration in Egypt, while Shell was awarded the most concessions in the tender - three for oil and two for gas.Neptune Energy, Merlon, Shell, Eni and state-controlled Egyptian General Petroleum Corporation (EGPC) were awarded seven oil exploration concessions in total in which 39 wells will be drilled, Egypt's petrole
