Neptune results: Seagull due for start-up next month, Isabella results imminent
Neptune Energy has published its first set of financial results since news broke that Eni (NYSE: E) plans to acquire the North Sea operator.
Neptune Energy has published its first set of financial results since news broke that Eni (NYSE: E) plans to acquire the North Sea operator.
It means that start-up at Seagull is slightly delayed - previously issued guidance from Neptune Energy had the field coming online in the first half of the year.
Yesterday Neptune Energy shared its 2022 H1 results, announcing drilling had commenced on the tenth well on the Cygnus field and reporting pre-tax profits of £1.18 billion.
Neptune Energy made £627.84 million profit after tax, according to the company's results from the first half of the year.
Neptune and its partners have completed installation of a subsea manifold and umbilical at the Seagull project, in the central North Sea.
Neptune Energy has said it remains committed to the DelpHYnus project, a blue hydrogen and CCS scheme on England’s east coast, after missing out on UK Government selection.
BP has chartered an accommodation vessel to provide gangway connected operations at one of its North Sea platforms.