Neptune Snaps Up Apache Assets in UK Central North Sea

Neptune Energy has reached an agreement to acquire certain development and exploration assets in the UK Central North Sea from Apache.

Neptune will acquire Apache’s 35% working interest in the Seagull development and a 50% working interest in the Isabella prospect; both operated by Apache. The proposed transaction is expected to complete this year.

The transaction follows Neptune’s announcement in June to acquire VNG Norge’s portfolio of production, development and exploration assets on the Norwegian continental shelf.

The Seagull development will consist of a multi-well subsea tieback project to existing nearby facilities that will start during 2019 with first production expected prior to Q1 2022.

The Isabella prospect is considered one of the largest undrilled exploration opportunities in the Central North Sea, with planned drilling operations also starting during 2019.

Jim House, CEO of Neptune Energy Group, said: “In line with our strategy of expanding positions in key jurisdictions, Seagull and Isabella are both high quality opportunities which complement our existing assets within the broader North Sea theatre of operations. We are extremely pleased to announce our second acquisition since the completion of the ENGIE E&P transaction last February. The signing of the SPA with Apache, which follows the announcement in June of our agreement to acquire VNG Norge, underlines our determination to continue building a leading international independent E&P company.”

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6th Offshore Well Intervention Conference Gulf of Mexico

The Offshore Well Intervention Gulf of Mexico conference (OWI GOM) is returning to Houston, Texas for its sixth year on Wednesday 20 – Thursday 21 November.

Featuring Anadarko, BP, Shell, Chevron, BHGE and Oceaneering, the conference aims to help operators transition to the latest compliance updates, WI systems and business models that enhance safety, quicken well access and improve commerciality.

Across two days, more than 200 delegates, 15 exhibitors and 30 speakers will network together and create solutions to some of the most pertinent industry challenges right now, through a conference programme focused on:

  1. Clarifying compliance updates
  2. Quicker well access and safer well control
  3. ​Understanding HPHT well intervention (systems)
  4. Forecasting well intervention activity, discussing new commercial models and comparing platform options
  5. Best practice riserless well intervention
  6. ​The latest well intervention equipment

For registration, speaking or sponsorship enquiries contact Abigail Clifton on aclifton@offsnet.com; +44 (0) 203 793 8800.

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