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Neptune Energy awarded new licences in Norway

View all news from: Neptune Energy (Neptune E&P UK Ltd)
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10 January 2023

Neptune Energy has today been awarded two new licences in the Awards in Predefined Areas (APA) 2023, announced by the Norwegian Ministry of Petroleum and Energy.
The new licences are located close to existing infrastructure in the Gjøa and Fram areas of the Norwegian North Sea, where Neptune already has a presence, reflecting the company’s exploration strategy to focus on key opportunities within core areas.
The awarded licences are:
•    PL1180 (40% and operator) in the Gjøa area
•    PL1179 (15% and partner) in the Fram area
Neptune Energy’s Managing Director in Norway and the UK, Odin Estensen, said: "Neptune has continued to demonstrate its ability to convert exploration success into development and production in a safe, timely and cost-efficient manner. 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.”
Neptune’s Director of Subsurface in Norway, Steinar Meland, added: "We are pleased to have been awarded an operatorship in the vicinity of our operated Gjøa area where we hope to build on 2022’s exploration success.”
The APA licensing round is held once a year in mature areas on the Norwegian Continental Shelf.