March 29, 2019

Neptune Energy and its joint venture partners BP and Japex have announced the agreement of a final investment decision (FID) for the Seagull oil project in the UK North Sea.

Seagull is expected to initially produce around 50,000 barrels of oil equivalent per day (80 per cent oil) across its ten-year design life, while proved plus probable gross reserves are estimated at 50 million barrels of oil equivalent. The high-pressure, high-temperature (HPHT) development is located in the central North Sea on UK licence P1622 Block 22/29C, 17km south of the BP-operated ETAP Central Processing Facility (CPF), to which it will be tied back partially using existing subsea infrastructure. Read more…