Neptune Makes North Sea Discovery

Neptune Makes North Sea Discovery
Neptune Energy has announced the discovery of hydrocarbons at the Dugong well.

Neptune Energy has announced the discovery of hydrocarbons at the Dugong well, which is located in the Norwegian sector of the North Sea.

The company outlined that upon entering the reservoir, logs and cuttings identified hydrocarbons. A decision has been made to initiate coring, Neptune Energy revealed.

“The operations in the reservoir section are still at an early stage and final results are not yet available. A contingent side-track may be drilled to further define the extent of the discovery,” Neptune Energy said in a company statement, which was posted on its website.

Dugong is situated 98 miles west of Floro, Norway, at a water depth of 1,082 feet, and is close to the existing production facilities of the Snorre field. Neptune Energy holds a 40 percent operated interest in the asset, and Concedo, Petrolia NOCO and Idemitsu Petroleum Norge all hold a 20 percent stake.

Neptune Energy announced that drilling had commenced at the Dugong exploration well on June 18. Dugong is the first operated exploration well to be drilled by Neptune Energy in the northern North Sea since the Duva discovery in 2016.  

The company has made several discoveries this year. Back in March, Neptune Energy announced that a discovery had been made at the Schwegenheim exploration well in the Rhine Valley, Germany, and at the Isabella exploration well in the UK Central North Sea. During the same month, Neptune Energy made a discovery with the Sigrun East exploration well 15/3-12S & 15/3-12A in PL025/187, near the producing Gudrun field in the North Sea.

Neptune Energy describes itself as an international independent exploration and production company. The business, which was set up back in 2015, has a regional focus on the North Sea, North Africa and Asia Pacific, according to its website.

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