News listings

energy-pedia development and production

Norway flagNorway

Europe / Caspian / CIS >>> Norway

Norway: Neptune Energy announces start-up of Gjoa P1 development


23 Feb 2021

Photo - see caption

Operator Neptune Energy and its partners Wintershall Dea, Petoro and OKEA have announced that production has started from the Gjøa P1 development in the Norwegian sector of the North Sea. 

Gjøa P1 has been developed via a new subsea template, tied back to existing infrastructure on the Gjøa field. It is a two well development with one oil and one gas producer. As planned, the gas well came onstream the on 22 February, with the oil well planned to start-up later this week.    

The semi-submersible Gjøa production unit is electrified with hydropower from shore and has one of the lowest CO2 footprints per produced barrel of oil equivalent (boe) on the Norwegian Shelf.

Photo - see caption
Neptune Energy announces start-up of Gjoa P1 development (Source: Neptune Energy)

Neptune Energy’s Managing Director in Norway, Odin Estensen, said:

'This is an important milestone for Neptune and our Gjøa partners and demonstrates our commitment to invest in Norway.

'Despite the challenges of the pandemic, we delivered the project on time and on budget. The start-up of Gjøa P1 underlines the Gjøa platform’s position as an important hub, increasing total remaining developed reserves at Gjøa by 30%.'

Good reservoir management has already extended the field life considerably. Gjøa is now set to produce over 100 million boe more than was estimated when production began in 2010. Gjøa P1 will help further maximise use of hydrocarbon resources.

Estensen added: 'The start-up of Gjøa P1, as well as the upcoming production start from the neighbouring Duva field, strengthens Neptune’s role in the northern part of the North Sea, an important growth area for the business.'

Neptune Energy’s Projects and Engineering Director in Norway, Erik Oppedal, said:

'The P1 development enables us to recover significant quantities of oil and gas from deeper lying reservoirs, as well as to utilise spare production capacity. This will help lower production costs per barrel, adding significant value to the Gjøa Licence Partners and to Norwegian society.'

Licence partners: Neptune Energy (30% and operator), Petoro (30%), Wintershall Dea Norge (28%), OKEA (12%).

Original article link

Source: Neptune Energy





Bookmark and Share


A global information service for upstream oil and gas opportunities - divestitures, farmins and farmouts and licensing rounds.


Subscriber Only Deals

Current Deals

Current Upstream Deals: 370

Completed Deals

Completed Upstream Deals: 6030

Company Profiles

Current Company Profiles: 2762

Corporate Activity

Current Corporate Activity articles: 3632

Companies Looking

Current number of articles: 446

Company Sales

Current Company Sales articles:1457

Geostudies

Current Geostudies articles: 780

How to subscribe

energy-pedia Jobs

RSS Feed Widget
See all jobs...


energy-pedia Databank

The energy-pedia databank contains links to information on the world financial and energy markets, including share prices, oil and gas prices and the global stock exchanges. Read more...



energy-pedia Glossary

A list of commonly used terms in the oil and gas industry. Read more...

Subscribe

Subscribe to the FREE
energy-pedia Daily Newsletter
Subscribe

Union Jack Oil 149
Rose & Assocs 149
Bayphase
KL Publishing
OPC
Government of South Australia
energy365
SLR Consulting logo
Blue Asterisk
About energy-pedia

energy-pedia news is a FREE news service written and edited by E and P professionals for E and P professionals.

We don't just report the news, we give you the technical background as well, with additional information derived from our unique energy-pedia opportunities service.
Contact us

energy365 Ltd

238 High Street
London Colney
St Albans
UNITED KINGDOM

Tel: +44(0)1727 822675

Email: info@energy-pedia.com