UK-based Neptune Energy has commenced production of gas from the 11th well in the Cygnus gas field in the North Sea.
The new gas well will support the UK’s efforts to secure more domestic energy supplies.
Go deeper with GlobalData
It is expected to produce around 4,000 barrels of oil equivalent per day, which is believed to be enough to heat approximately 200,000 UK homes.
The Cygnus gas filed, along with the 10th well that began operation this year, is predicted to generate sufficient gas daily to fulfill the energy demands of approximately 1.9 million households in the UK.
The Cygnus field, which began production in 2016, is said to have a field life of over two decades.
With a 38.75% stake, Neptune Energy is the operator of the field and the remaining 61.25% stake is held by Spirit Energy.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataOn the UK Continental Shelf, the gas field continues to have one of the lowest carbon intensities.
Neptune Energy UK Country Director Alan Muirhead said: “Cygnus plays an important role in supporting UK energy security and has the capacity to supply around 6% of the country’s gas demand.
“We are taking steps to boost North Sea gas production which reduces the UK’s reliance on less secure and more carbon intensive supplies of imported energy, and also supports the government’s aim of achieving energy independence by 2040.”
Borr Drilling’s Prospector 1 jack-up rig drilled the 10th and 11th wells.
Spirit Energy CEO Neil McCulloch said: “Continuing to secure reliable and responsible supplies of energy from the UK continental shelf has never been more important.
“Spirit Energy is delighted to welcome first gas from the joint venture’s most recent investment in Cygnus, as gas continues to be a key energy source in the transition towards Net Zero.”
