UK-based offshore operator Neptune Energy has announced the beginning of a drilling campaign on the Fenja field offshore Norway. Following spudding of the primary well.
Fenja is that the first operated development project on the Norwegian Shelf by Neptune. It’s estimated to contain 97m barrels of oil equivalent (boe) and can deliver approximately 40,000 boe per day at peak.
The Fenja oil and gas field includes the Pil and Bue oil discoveries in production license PL586. Located in blocks 6406 / 11 and 12 of the Norwegian North Sea. The license is jointly owned by Neptune Energy Norge (30%), Var Energi (45%). Suncor Energy Norge (17.5%), and DNO North Sea (7.5%).
Neptune Energy Norway Projects
Neptune Energy Norway Projects and Engineering director Erik Oppedal said: “Sunday’s drilling start-up represents a crucial milestone within the project. The aim of those first geo-pilots is to realize a far better understanding of the reservoir and to optimize the situation of the assembly wells.
“The pandemic and lockdowns (around the world) have created very challenging times. For the exploration and production sector. The disruptive impact of the pandemic and developments within the global oil market will continue for a few times. So, we’ve suggested some measures for the finance ministry’s consideration. In order that companies like ONGC and other stakeholders can stay in business,” oil minister Dharmendra Pradhan told TOI.
“As our first operated development within the Norwegian North Sea, Fenja is an exciting project for Neptune and underlines. The importance of the region as well as to our geographically-diverse business.”
“Lockdowns erased major demand. This resulted during a glut. A commodity has become cheap but there’s no demand. Now price is slowly rising as demand as well as revives in India et al. We are working during a changed scenario. nobody knows where prices will stabilize,” he said, explaining the necessity for relief to producers.
To the Equinor-operated Njord A platform, which is 36km far away from Pil and Bue discoveries.
