Neptune gets greenlight to launch Norway's Duva field
Norwegian authorities have given the all-clear for production to start at Neptune Energy's Duva oil and gas field in the North Sea, the Norwegian Petroleum Directorate (NPD) reported on July 28.
Neptune estimates the field's reserves at some 71mn barrels of oil equivalent, and plans to develop this resource using a subsea installation comprising three oil-producing wells and one gas-producing one. The field is expected to flow 25,000 barrels of oil equivalent/day of oil and gas at plateau that will be delivered to Neptune's Gjoa platform.
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The project's cost is 5.1bn kroner ($575mn). Neptune expects production to start in August, following a few months of delays as a result of the pandemic.
Duva is the first discovery to be developed in the Agat formation, the NPD said, hailing the project as a good example of utilising existing infrastructure to develop new finds.
Neptune operates Duva with a 30% interest, while Japan's Idemitsu Petroleum and Poland's PGNiG each have 30%, and Norway's Sval Energi has 10%.