Neptune Energy News

Esgian reports shifts in demand in its Week 13 Rig Analytics Market Roundup.Report overview:ContractsADES has received a Letter of Intent (LOI) from PTTEP Energy Development Company Limited for an 18-month jackup drilling contract in the Gulf of Thailand. Operations are expected to begin in the second half of 2024, with an unspecified jackup.Drilling Activity and DiscoveriesThe Norwegian Offshore Directorate (NOD) has granted Aker BP a drilling permit for an exploration well in…

Esgian reports fresh finds confirmed in Guyana, China and Norway in its Week 12 Rig Analytics Market Roundup.Report Outline:ContractsDolphin Drilling has announced the award of a $154 million drilling contract from India's exploration and production company, Oil India Limited (Oil India), to the 6,000-ft semisub Blackford Dolphin.Malaysian offshore drilling firm Velesto confirmed Friday it had recently secured long-term contract extensions for three of its jackup rigs with Petronas Carigali…

This week Esgian’s Week 50 Rig Analytics Market Roundup notes developments in the semisub sector including that Shell has decided to exercise its option on Stena Don in the North Sea but not on Deepsea Bollsta in Namibia. Meanwhile, a new contract for the Transocean Barents will see it operate in the Black Sea, and jackup Shelf Drilling Perseverance will move to Vietnam.ContractsShelf Drilling has secured a contract award for the 400ft Shelf Drilling Perseverance jackup rig with PetroVietnam Domestic Exploration Production Operating Company Limited (PVEP POC).

Norway's Equinor plans to restart production at its Arctic liquefied natural gas (LNG) plant in Hammerfest on June 8 after it was shut down on May 31 due to a gas leak, the company said in a market message on Thursday. The facility will be unavailable until 2100 GMT on June 8, according to a message posted via the transparency page of Norwegian gas infrastructure operator Gassco. Equinor halted production after it detected a gas leak on a cooling circuit valve. The leak had been plugged late on Wednesday.

Equinor's Hammerfest LNG plant in Arctic Norway suffered a compressor failure on Thursday and is expected to remain offline until May 19, Norwegian gas system company Gassco said in a regulatory note on Friday. The outage was caused by a technical problem with a heat exchanger that occurred during a restart of the plant following a one-day maintenance outage, an Equinor spokesperson said. The plant will remain offline until repairs have been carried out, the spokesperson added.

Norway's parliament on Tuesday told the government to consider an alternative way to cut carbon emissions at Western Europe's largest liquefied natural gas (LNG) plant, but stopped short of outright halting a controversial plan to use power from land. Oil firm Equinor and partners are seeking approval to replace the use of gas at the plant with power from the national grid, and thus reduce its emissions. The site is one of Norway's largest single emitters of carbon dioxide. In a unanimous vote…

Norwegian offshore vessel owner Rem Offshore on Tuesday announced it has secured multiple contracts for several of its platform supply vessels (PSV).Rem Cetus, Rem Insula and Rem Server have been extended for one year with Apache North Sea Limited in the U.K. sector. Rem have had several vessels on charter with Apache over the last years.Rem Arctic has been awarded contracts with Well Expertise (DNO Norge ASA and Wellesley Petroleum AS) for two wells supporting Deepsea Yantai…

CapeOmega and Neptune Energy on Wednesday announced NoordKaap, a project concept for a cross-border CO₂ storage solution for industrial emitters across Europe. According to Neptune Energy, NoordKaap would involve transporting CO2 via vessels suitable for directly injecting the CO₂ at offshore locations and for terminal offloading. The two companies have signed a letter of intent with RWE to assess the possibility of shipping "green CO2" from RWE's biomass Eemshaven facility for offshore storage in the Dutch North Sea…

Oil and gas company Neptune Energy has signed a Memorandum of Understanding (MoU) with the Norwegian low-carbon tech firm Horisont Energi to develop the Errai Carbon Capture and Storage (CCS) project in Norway.According to Neptune Energy, Errai could store 4-8 million tonnes of CO2 annually, with the potential to store more in later phases. The project includes an onshore terminal for intermediate CO2 storage, with the intention to permanently store the CO2 in an offshore reservoir.The onshore terminal would be capable of receiving CO2 from European and domestic customers…

Neptune Energy on Wednesday announced the award of a £10 million three-year vessel services contract to Sentinel Marine, to provide offshore support for its operated Cygnus gas field in the U.K. southern North Sea.The contract, awarded following a competitive tendering process, will see Sentinel Marine continue to deploy its multi role, emergency response and rescue (MRERR) vessel Cygnus Sentinel on the gas field. The vessel will also support an upcoming drilling campaign on the Cygnus field.

Norway's Hammerfest liquefied natural gas plant has restarted LNG production following a fire almost two years ago, boosting the country's gas exports, operator Equinor said on Thursday.The company last week told Reuters the plant had completed repairs and was preparing to restart output. The plant had been offline since late September of 2020, and a restart was postponed several times while repairs were carried out."This is of great significance in a period when predictable and reliable supplies are highly important to many countries and customers…

Norway’s Hammerfest liquefied natural gas plant has resumed operation as planned and is preparing to restart LNG production, a spokesperson for operator Equinor told Reuters on Friday.The plant has been offline for 20 months following a fire in September of 2020.LNG is made by cooling gas to temperatures that liquefy it, thus allowing large quantities to be transported by ship.“We have resumed operations and started cool down of the plant. We will issue a press release when we have LNG to tank…

Norway's Hammerfest LNG plant is now expected to restart on May 23, six days later than the previous plan and further delaying operations since a fire in 2020, Norwegian gas system manager Gassco and operator Equinor said on Monday."During the weekend, a minor fault was discovered on a compressor that needs to be rectified prior to start-up," Equinor said in a statement. Read full story"The component is now being replaced, and the stepwise process towards operations continues through the week."Europe's only large-scale LNG plant…

Dutch seabed survey services firm Fugro has won a subsea inspection contract with the oil and gas company Neptune Energy at the Cygnus gas field in the UK North Sea.As part of the contract, Fugro will employ its specialized survey technology to inspect the subsea infrastructure, including pipelines and structures, and to undertake survey activities in advance of future drilling campaigns on the Cygnus field. It will use the Atlantis Dweller vessel as part of the operations."Traditionally…

Total has made a hydrocarbon discovery at the Isabella exploration well in the UK Central North Sea, Neptune Energy, Total's partner in the project has informed.Neptune Energy has described Isabella as "an encouraging hydrocarbon discovery" which encountered hydrocarbons in Upper Jurassic and Triassic sandstone reservoirs, with 64 meters net pay encountered, consisting of lean gas and condensate and high-quality light oil."The results of the well will be analyzed to further evaluate the discovery, determine future appraisal activity and recoverable resources estimates.

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 of fields on the Norwegian Continental Shelf is one of the investment priorities of the PGNiG Group. Our aim is to ensure that as much as possible of the gas that will flow from Norway to Poland following the launch of the Baltic Pipe will come from our own production. This is part of our strategy to diversify supplies and strengthen Poland's energy security.

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, offshore East Kalimantan in Indonesia, and includes Merakes development and Merakes East discovery. The agreement is subject to the necessary authorizations from Indonesia’s authorities.The release pointed out that Eni and Neptune Energy are already partners in the Muara Bakau area…

Neptune Energy Norge AS has hired the newly built Beacon Atlantic semi-submersible drilling rig for up to 16 wells offshore Norway.The oil and gas producer said in a press release that it has chartered the rig from China’s rig builder CIMC Raffles, and the rig will be managed by the Norwegian offshore drilling specialist Odfjell Drilling.The commencement of the drilling operations is expected to be in Q4 2019 and the estimated duration of the firm program is 400 days. CIMC Raffles and Odfjell Drilling are further establishing a project team at the shipyard to prepare and mobilize for the operations in the North Sea.CIMC Raffles and Odfjell…

Britain's richest man Jim Ratcliffe's oil and gas company Ineos Group Holdings is in exclusive talks with ConocoPhillips to buy North Sea oil and gas fields worth $3 billion from the U.S. energy company.Various news paper reports say that British petrochemicals company has confirmed it is negotiating to buy several North Sea oil fields from U.S. energy giant.The Sunday Times, which first reported the story, said that the period is said to be set to three months after the entity registered in Switzerland agreed to pay a "substantial" deposit.Accoding to the Financial Times, the potential deal, which has a price tag of more than $3 billion according to industry sources…

The oil and gas producer Neptune Energy has announced the appointment of Eko Lumadyo as Managing Director of its Indonesian business, based in Jakarta.Lumadyo will join Neptune from Mandala Energy Indonesia, where he is currently Country President and General Manager.Lumadyo has more than 30 years’ experience in upstream oil and gas exploration, development, planning, operations and commercial affairs. He started his career with Unocal as a geophysicist and progressed within the organisation from technical leadership through to Vice President of Deepwater Development.He held positions in Indonesia, Los Angeles and Texas. Subsequently he held senior roles with Black Gold Energy…

UK's Newcastle University to lead a national centre for subsea & offshore engineering in a major drive to develop new materials & technologies. The Neptune National Centre for Subsea and Offshore Engineering was unveiled recently by Business Secretary Vince Cable as a key part of the Government's Oil and Gas Strategy. It will be the first of its kind in the UK, bringing together industry and academia to create a world-class engineering research facility. Developing technologies that can withstand one of the world’s harshest environments, the new centre will be at the forefront of a quest to harness the ocean's potential as a source of food, energy and medicine.

Royal IHC announced it has expanded its activities with the acquisition of Fraser Hydraulic Power (FHP) in the UK and Robbins Technology Group (RTG) in Brisbane, Australia. With these latest acquisitions, IHC has expanded its offshore rental fleet and gained a stronger foothold in the mining market respectively. Founded in 1986, FHP designs and builds systems for laying subsea cables and umbilicals with tracked engines and tensioners, cable carousels, and drum handling systems in its product range. These are supplied to the subsea telecoms, renewables, and oil and gas industries. FHP operates from a recently custom-built 28,000 sq ft unit at the Neptune Energy Park in Walker, Newcastle, which is perfectly located to support its customer base of offshore marine contractors.