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Neptune Energy awarded six licenses in Norway

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Neptune Energy has been awarded a total of six new licenses in the Awards in Predefined Areas (APA) 2020, the Norwegian Ministry of Petroleum and Energy announced.

The award covers four licenses in the Norwegian North Sea and two licenses in the Norwegian Sea. All the licenses are located close to existing infrastructure in areas where Neptune already has a presence, and according to its exploration strategy to focus on key opportunities within existing core areas. Neptune has been awarded operatorship in three licenses.

“We are very pleased with the APA 2020 awards. Through this licensing round, Neptune Energy continues to build a sustainable exploration portfolio in our core areas,” said Odin Estensen, Neptune Managing Director in Norway. “The awards strengthen Neptune Energy’s growing position in Norway and emphasize the importance of the Norwegian Continental Shelf within our global portfolio.”

The awarded licenses are:

Norwegian North Sea (4):

  • PL1096 (20% and Partner)
  • PL1105S (50% and Operator)
  • PL1107 (40% and Operator)
  • PL1110 (30% and Partner

Norwegian Sea (2):

  • PL1112 (20% and Partner)
  • PL1113 (40% and Operator)

“This year’s APA success shows that area knowledge, technology and organisational excellence deliver value to Neptune, particularly in this challenging period for our industry,” said Steinar Meland, Neptune’s Director of Subsurface in Norway. “We are very pleased with the six awards in all our three core areas. It’s especially exciting to have been awarded license PL1107 close to Dugong, where we made one of last year’s largest discoveries and where we within a few weeks’ time will drill an additional appraisal well.”

The Awards in Predefined Areas (APA) licensing round is held once a year in mature areas on the Norwegian Continental Shelf.

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