Neptune Energy has announced in a press release that as of 4 December 2018, the merger between Neptune Energy Norge AS and VNG Norge was completed. The entire business of former VNG Norge – including participating interests in production licenses, operatorships and employees have now been merged into Neptune Energy Norge.
Fenja (former Pil & Bue discovery in PL 586), an oil and gas field under development in the Norwegian Sea, is Neptune’s first operated development project in Norway. It lies 120 km north of Kristiansund, with estimated recoverable resources in excess of 100 million barrels oil equivalent in the Jurassic Rogn Formation. The field is a subsea development with tie-back to Njord A and will be developed with three oil producers, two water injectors and one gas injector which will be converted to a gas producer during the gas blow down phase towards the end of field life. First oil is targeted for Q1 2021. Licence partners in PL 586 are Neptune Energy (operator, 30%), Vår Energi (45%), Suncor (17.5%) and Faroe Petroleum (7.5%).