Upstream

Neptune Energy awards $21M contract to Borr Drilling for low-emission campaigns

Neptune Energy upstream

Neptune Energy, the independent upstream company, announced this Wednesday it awarded a $21,4 million contract to Borr Drilling, to consolidate development and exploratory activities in the Dutch and UK sectors of the North Sea, with a low-emission approach and reduced operational costs.

Firstly, the Borr Drilling’s new Prospector 1 jack-up rig will carry out the drilling activities; it is equipped with technologies that reduce carbon and nitrogen emissions from its operations by around 95 per cent.

Secondly, this low-emissions approach complements Neptune Energy’s commitment to create a supply chain that maximizes efficiency and reduces operational emissions across its growing portfolio in upstream assets.

Thirdly, the Prospector 1 drilling equipment uses a Selective Catalytic Reduction (SCR) System which particularly reduces emissions of nitrogen (NOx); and carbon (COx).

Moreover, the contract award includes an option for an additional three wells after the initial seven-month drilling campaign is completed.

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Neptune Energy consolidating a low-emissions and efficiency focused supply chain

In addition, regarding Neptune Energy’s activities, Brett McIntyre, company’s Global Head of Drilling & Wells, said. “Previous drilling contracts have traditionally been awarded at a country level, but by consolidating these work scopes we have adopted a more collaborative and efficient approach with Borr Drilling.”

He also remarked. “We have an exciting programme of activities planned to support the growth of our global business; this is an excellent example of how E&P companies and supply chain can work together, adopting the latest technologies and also commercial models to improve efficiency; reduce emissions across a variety of offshore activities.”

On the other hand, Harvey Snowling, Chief Operating Officer of Borr Drilling, said. “This contract award demonstrates our focused collaboration to deliver consistently safe, efficient, high quality drilling services to our customer.”

While remarking that. “We are always looking for ways to improve the efficiency of our operations; to reduce our impact on the environment. In fact, the installation of a SCR system on Prospector 1 represents a major step on our sustainability journey.”

Finally, Neptune just recently announced its annual results for 2020; the company also highlighted new projects coming online in 2021, in Norway and Indonesia; as well as longer term prospects in Norway and the UK that will increase production to around 200 kboepd in 2023.

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