As part of our 'at-a-glance' guide to company global operational activity, today we feature Neptune Energy.

From small private operators through to multi-national companies, KeyFacts Energy's database includes over 600  ‘first pass’ preliminary review profiles.

Executive Chairman and founder Sam Laidlaw set up Neptune Energy with private equity investors in 2015 to invest in large oil and gas portfolios.

The acquisition of ENGIE E&P International (EPI) in February 2018 marked a new beginning for the Company. This transformative transaction made Neptune one of Europe’s largest international independent E&P companies. At the same time, China Investment Corporation (CIC) became the company's largest single shareholder.

Neptune is an international independent oil and gas exploration and production company, with a regional focus on the North Sea, North Africa and Asia Pacific.

In the North Sea, their core region, Neptune have a strong operating platform. With their Gjøa and Cygnus assets driving success, there is great potential for enhanced future value. Germany provides a leading onshore position and access to material upside. Meanwhile, in North Africa, a key supplier of European markets, there is the prospect of considerable volume growth. The company's presence in the Asia-Pacific region is fuelled by fast-growing gas demand in a well-established E&P business environment.

Production

Neptune’s total Group production for 2020 averaged 142.4 kboepd, within its revised guidance range of 140-145 kboepd. Including production-equivalent loss of production insurance payments, production was 143.8 kboepd, which was unchanged on 2019.

OVERVIEW OF OPERATIONS

Source: KeyFacts Energy

NORWAY

Neptune Energy has interests in seven producing fields in Norway from Snøhvit in the Barents Sea to Gudrun in the southern part of the North Sea. Approximately half of the Neptune Group’s total production as well as 2P reserves are located Norway. 

Since first oil in 2010, Neptune has operated the Gjøa oil and gas field. The semi-submersible production unit has full processing and export capabilities, and is powered by hydroelectricity generated, sustainably, from shore. As a result, the carbon intensity of Gjøa’s production is among the lowest on the NCS.

Norway is a strategically important part of Neptune's global asset portfolio, with significant investment committed to project developments including Dugong, Duva, Fenja, Njord and Bauge.

• Daily average production: 54.7 kboepd
• % of group production: 38

Activities

Gjøa
A gas and oil field in the northern part of the North Sea powered by hydroelectric energy generated sustainably onshore.

Brage
A mature field in the northern North Sea with a fixed integrated production, drilling and accommodation facility.

Fram area
Consists of two fields, both developed by two four-slot subsea templates and connected to the Troll-C platform via production flowlines. The Fram licence also consists of the Echino South discovery and two prospects ready to be drilled.

Njord Area
A key production area on the Norwegian continental shelf and a hub for nearby developments.

Ivar Aasen
An oil and gas field in the North Sea with a stand-alone platform equipped with partial processing, water conditioning and injection.

Gudrun
A HPHT oil and gas field in the North Sea developed by a steel platform resting on the seabed.

Draugen
A mature offshore oil production field with both platform and subsea wells.

Snøhvit
The first offshore development in the Barents Sea supplies gas to the world's northernmost LNG liquefaction plant.

Vega
Vega, located in the northern part of the North Sea, consists of three separate structures, Vega Nord, Vega Sentral and Vega Sør. Vega (Vega Nord and Vega Sentral) and Vega Sør fields was merged into Vega Unit in 2013.

Duva
An oil and gas subsea tie-back development to the Neptune-operated Gjøa semi-submersible facility.

Gjøa P1
A two-well oil and gas subsea development project with a tie-back to Gjøa that extends the Gjøa field into untapped reserves.

Fenja
The tie-back to Njord-A will be the world’s longest electrically trace-heated pipe-in-pipe subsea development.

Nova
A new module for the Gjøa platform to receive and process oil and gas from the Nova subsea development.

Sigrun & Sigrun East
The Sigrun and Sigrun East discoveries in PL025/187 are located near the producing Gudrun field in the North Sea.

Dugong
The Neptune-operated Dugong discovery in Production Licence 882 was one of the largest discoveries on the Norwegian Continental Shelf in 2020.

Grosbeak
Grosbeak is located just north of Fram in the northern North Sea. The discovery is located within three licenses, of which Neptune Energy is partner in two; PL925 and PL090JS.

Blasto
The Blasto discovery was announced in March 2021. It is the biggest discovery so far this year on the Norwegian continental shelf (NCS).

UNITED KINGDOM

Neptune Energy manages UK offshore oil and gas fields across the lifecycle of E&P from its operational base in Aberdeen, with Neptune Group located at its global headquarters in London.

Neptune operates the Cygnus Alpha and Cygnus Bravo facilities in the Southern North Sea, producing gas from the Cygnus field – the UK’s largest single producing gas field, with the capability to supply energy to the equivalent of 1.5 million homes. Operational carbon intensity from Cygnus among the lowest in the industry, at less than 2kg per boe.

In the Central North Sea Neptune is developing the Seagull project with its partners bp and JAPEX, which comes on stream in 2023, providing long-term growth in the UK portfolio. Neptune also has a working interest in the Isabella exploration discovery.

• Daily average production: 18.3 kboepd
• % of group production: 13

Activities

Cygnus
The Cygnus field is capable of supplying six per cent of the UK’s gas demand, enough to fuel 1.5 million UK homes. Neptune is operator of the Cygnus Alpha and Cygnus Bravo production facilities.

Seagull
A four-well subsea tie-back project re-using the existing facilities on the Heron pipeline and hosted by the BP-operated ETAP central processing facility in the Central North Sea.

Isabella
Isabella is considered one of the most exciting prospects in the UK's Central North Sea.

ALGERIA

Neptune Energy is the joint operator of the Touat gas plant, through the Groupement Touat Gaz Joint Venture, consisting of Sonatrach, the National state-owned Algerian oil and gas company (joint operator) and Engie. First gas was achieved in 2020 and the asset will operate for in excess of 20 years. The plant connects to the GR-5 pipeline, a major artery for Algeria’s gas export.

Activities

Touat
Touat gathers together ten gas fields in the Sahara Desert, near the city of Adrar in Algeria, as a single networked facility. The facility consists of infrastructure, production wells and a central processing facility, and covers more than 1,300 km².

Neptune joined forces with Sonatrach in 2002 to explore and produce gas fields in the Touat area. Exploration and appraisal activities between 2003 and 2007 drilled seven wells and confirmed enough natural gas to plan development.

The development plan was approved in 2009. In 2010, the companies set up a joint venture, Groupement TouatGaz (GTG), which became the operator of the development and production operations. The plan estimates 4.5 billion m3 gas production and 630 kboe condensate annually.

The facility consists of production wells, pipeline infrastructure, and a central processing facility capable of 75 kboepd, with an export pipeline into the Algeria gathering system. The field is connected to a Sonatrach pipeline transporting gas from southwest Algeria 800 km north to Hassi R’Mel.

Development works have included drilling 41 production wells, building living quarters, a road, an aircraft runway, a gathering network and gas treatment facilities.

On 7 September 2019, first gas export was achieved and activity is ongoing to achieve plateau of around 450 million standard cubic feet of gas.

The project is led by Groupement Touat Gaz (GTG Partners), consisting of Neptune Energy Touat (65%) and Sonatrach (35%). Within Neptune Energy Touat, ENGIE holds 46% and Neptune 54%.

EGYPT

Neptune Energy has interests in an offshore oil field in the Gulf of Suez, an oil and gas field in the Egyptian desert and an operated exploration licence in the Gulf of Suez. The company continues to investigate growth opportunities in the country. 

Activities

North West El Amal Offshore Concession
The acquisition of 3D seismic was completed at the beginning of Q2 2020 and data processing is underway, with two intermediate cubes having been received. The drilling of one exploration well is to be completed within the first phase, with two further wells planned in phase two.

Alam El Shawish West
Alam El Shawish West is located 300 km west of Cairo. It produces oil and gas from six local facilities. Discoveries at Al Karam, Al Assil, Al Barq, Al Magd, Al Bahga and Al Bahga SE between 2006 and 2008 are all now producing. The concession contains around 66 mmboe 2P reserves.

The gas fields are tied back to the CO2 removal plant, then to the BED-3 gas processing facility in the adjacent block. For oil, Bahga acts as a gathering hub for onward transportation to Shell’s facilities in the adjacent BED-3 Area. Shell Egypt operates the site with its joint venture partners Badr El-din Petroleum Company (BAPETCO) and the Egyptian General Petroleum Corporation.

Partners in the Concession are Neptune Energy (25%), Shell Egypt/BAPETCO (40%), NPIC (35%).

THE NETHERLANDS

Neptune Energy is the largest gas producer in the Dutch sector of the North Sea and has been active in the region since 1964.

Neptune operates 29 offshore facilities with four major treatment hubs. Projects span the entire value chain; near field exploration, High Pressure High Temperature (HPHT) development, maintenance and decommissioning.

The Dutch North Sea has the potential to become a ‘new energy hub’, given its existing infrastructure connecting offshore with onshore. Neptune is participating in PosHYdon, a pioneering pilot project to create the world’s first offshore hydrogen production plant, which will be hosted by the Neptune-operated Q13a platform. Neptune is also pursuing a major carbon capture and storage (CCS) development to inject CO2 in the depleted gas fields around the Neptune-operated L10-A, B and E areas.

• Daily average production: 21.1 kboepd
• % of group production: 15

Activities

FLQ Cluster
A diverse, extended area in the eastern part of the Dutch North Sea sector including oil production, HPHT development, and infill drilling.

D12-A and D12-B (Sillimanite)
Situated in the D Block and discovered in June 2015, the unitized gas field stretches across the UK and the Dutch Continental Shelves.

L10 Area
The L area is the ‘grande dame’ of the Dutch part of the North Sea. L10-A complex manages a large amount of the gas produced by the Dutch continental shelf.

DEK Area
Field development, exploration and cross-border third-party opportunities on the western side of the Dutch North Sea sector.

K6-D
A gas-producing satellite platform in the K6 Block central complex

Noordgastransport (NGT)
The 470 km NGT network transports natural gas onshore from the Dutch continental shelf to the Uithuizen processing station.

Decommissioning
In Q1/Q2 2020, three platforms were decommissioned: the L10-C, L10-D and the L10-G. These platforms were installed in the 70s and 80s and reached the end of their economic life after decades of gas production. 

G Blocks
Gas-producing operations on the eastern side of the Dutch Continental Shelf focus on optimising production and exploration.

F16ab
A seven-storey gas and condensate production platform on the Dutch continental shelf.

NOGAT
The 264 km NOGAT pipeline system transports gas to an onshore processing plant at Den Helder.

GERMANY

Neptune Energy has been present in Germany for more than 130 years, operating and working with partners on some of the most productive fields in the north west, east and south of the country.

The company’s main assets are concentrated in the North German basin, the Altmark and the Rhine Valley, with a diverse gas and liquid production portfolio including fields at various stages of the cycle. With the Römerberg oil field and the Adorf gas field under development, Neptune Energy operates two of the most promising E&P projects within the country.

Neptune Energy also supplies 9% of Germany’s natural gas and 16% of its produced oil, making the company the No. 2 oil producer and No. 3 gas producer in Germany. 

• Daily average production: 17.0 kboepd
• % of group production: 12

Activities

Central and Eastern Germany
Oil and gas production at four primary locations, including what was the second largest natural gas reservoir in mainland Europe.

Western Germany partner-operated
Productive gas and oil fields in Western Germany.

Rhine Valley / Römerberg
Oil-producing field Römerberg and several promising exploration locations in Rhineland-Palatinate and Baden-Württemberg.

Western Germany operated
The regional centre of the country’s natural gas production and the traditional heart of its onshore oil-producing industry.

INDONESIA

In Indonesia, Neptune Energy has established a world-class acreage position in the Kutei Basin through its transaction with Eni and a new licence award. This not only enhances value from Neptune’s existing assets, but also improves alignment with partners and provides material growth opportunities through the development of existing discoveries and longer-term exploration.

Working with its partners, Neptune produces LNG for export to the region and gas for the domestic market to help meet the country’s growing energy needs.

Activities

Muara Bakau PSC
The Jangkrik and Jangkrik North East fields are part of the Muara Bakau production-sharing contract (PSC), covering over 1,000 km² of the eastern part of the Kutei Basin.

East Sepinggan PSC
In 2019, Neptune acquired a 20% interest in the East Sepinggan PSC from Eni. Eni hold a 65% interest in the PSC and will continue to be the Operator of the area, located in the East Sepinggan area, offshore East Kalimantan, Indonesia.

West Ganal PSC
In 2019, Neptune Energy and its partners, Eni (Operator) and Pertamina were awarded the West Ganal production sharing contract (PSC) in Indonesia, by Indonesia’s Ministry of Energy and Mineral Resources.

North Ganal PSC
The block, awarded in 2011, currently covers an area of 486.43 km² and is located in the prolific Kutei basin, offshore East Kalimantan and adjacent to Ganal, West Ganal, Rapak and East Sepinggan blocks.

East Ganal PSC
The block, awarded in 2018, covers an area of 5,080 km² and is located in the prolific Kutei basin, offshore East Kalimantan and adjacent to Muara Bakau, East Sepinggan, Ganal, West Ganal and Rapak blocks.

AUSTRALIA

Neptune Energy acquired new 3D seismic covering Petrel, a large gas field in the Timor Sea, and surrounding acreage. As part of its development strategy for the Petrel field, the new data will help further delineate the field and de-risk future upside opportunities.

Activities

Bonaparte
Bonaparte is a subsea tie-back development project, targeting significant stranded gas reserves in the Timor Sea.

The Bonaparte basin of the Timor Sea holds significant gas accumulations. Neptune is operator of the Petrel Field.

Neptune’s Bonaparte development team is appraising the cost-effectiveness of alternative gas supply systems. Transporting the gas to Darwin via pipeline is one option being investigated. Darwin hosts significant LNG infrastructure, it has a gas-fired power station and a pipeline is already in place to connect the Northern Territory to markets on the east coast.

Partners are: Petrel – Neptune Energy (54%), Santos Limited (22.41%), Bonaparte Gas & Oil Pty. Limited (17.84%)  Beach Energy (Bonaparte) Pty Limited (5.75%).

NEW ENERGY

Neptune have created a New Energy team to scale partnerships and investments in low carbon technologies, particularly hydrogen, carbon capture and storage, and electrification.

Hydrogen

There is a growing consensus internationally that hydrogen will be required at scale in order for countries to meet the ambitious targets set out by the Paris Agreement. Neptune joined the European Clean Hydrogen Alliance in 2020, supporting the development of the EU’s hydrogen strategy and its goal to become carbon neutral by 2050. The alliance brings together industry, public authorities and civil society. 

The Netherlands is particularly well-positioned to lead the transition to a hydrogen economy, given its abundance of wind energy and existing infrastructure at sea and on land for the transport of gas and hydrogen. 

Neptune are progressing a pilot project, called PosHYdon, in the Dutch North Sea to establish the world's first offshore green hydrogen production plant. The Company's Q13-a platform will house a megawatt electrolyser that will produce green hydrogen from renewable energy. The green hydrogen will be blended with natural gas and transported onshore via existing pipelines. 

LEADERSHIP

Sam Laidlaw, Executive Chairman
Jim House, Chief Executive Officer
Armand Lumens, Chief Financial Officer
Mark Richardson, VP Projects and Engineering
Andrea Guerra, VP Subsurface
David Hemmings, VP Business Development and Commercial
Pete Jones, VP Operations Europe
Philip Lafeber, VP Operations North Africa and Asia Pacific
Odin Estensen, Managing Director, Norway
Alexandra Thomas, Managing Director, UK
Mehdi Bouguetaia, Managing Director, Algeria
Mohamed Mounes Shahat, Managing Director, Egypt
Lex de Groot, Managing Director, Netherlands
Andreas Scheck, Managing Director, Germany
Eko Lumadyo, Managing Director, Indonesia
Janet Hann, Managing Director, Australia

OFFICES

UK

London
Nova North, 11 Bressenden Place, London SW1E 5BY
Tel: +44 (0) 20 7832 3900

Aberdeen
16 North Esplanade West, Aberdeen AB11 5RJ
Tel: +44 (0)1224 281000

NORWAY

Florø
Botnaneset, Bygg 59, 6900 Florø, Norway
Tel: +47 52 03 10 00

Oslo
Filipstad Brygge 1, 0252 Oslo, Norway
Tel: +47 51 53 89 00

Stavanger
Vestre Svanholmen 6, Sandnes, P.O. Box 242, 4066 Stavanger, Norway
Tel: +47 52 03 10 00

GERMANY

Lingen
Waldstraße 39, 49808 Lingen (Ems)
Postfach 1360, 49803 Lingen, Germany
Tel: +49 591 / 6127-000

THE NETHERLANDS

Einsteinlaan 10, 2719 EP, Zoetermeer, Netherlands
Tel: +31 (0)79 368 68 68

Den Helder
Industrieweg 35, 1785 AG Den Helder
P.O. Box: 84, 1780 AB Den Helder, Netherlands
Tel: +31 (0)223 639 639

NORTH AFRICA

Alger
02 Allée des Amandiers, Hydra 16035, Alger
Tel: +213 21 48 05 43

Cairo
44 Palestine Street - 3rd Floor, New Maadi, 11435 Cairo, Egypt
Tel: + (20) 2 27547419

ASIA PACIFIC

Jakarta
Pondok Indah Office Tower 2, 6th Floor, Jl. Sultan Iskandar Muda Kav V-TA, Jakarta Selatan - 12310, Indonesia 
Tel: +62 21 50 85 64 00

Perth
Level 2, 5 Mill Street, Perth WA 6000, Australia
Tel: +61 8 6205 3900