Neptune Energy Norge, a subsidiary of Neptune Energy, has been granted a drilling permit by Norwegian authorities for an exploration well in the North Sea, offshore Norway. The drilling activities are scheduled to be conducted using one of the semi-submersible rigs managed by Odfjell Drilling.

The Norwegian Petroleum Directorate (NPD) announced on Friday, 25 August 2023, that Neptune Energy Norge has received a drilling permit for well 35/6-4 S. The scope of this well includes drilling an appraisal well within production licence 929, which was awarded on 2 March 2018 and is valid until 2 September 2025.

Neptune Energy holds a 40% ownership interest and serves as the operator of the licence, while its partners consist of Aker BP (10%), DNO Norge (10%), Pandion Energy (20%), and Wintershall Dea Norge (20%).

The drilling operation is anticipated to commence in September 2023, utilizing the Deepsea Yantai rig. This rig, owned by China's CIMC and managed by Odfjell Drilling, was contracted by Neptune Energy in December 2022 for two firm wells in Norway.

The Deepsea Yantai rig, constructed in 2019 and designed as GM4D, is equipped for operations in challenging environments. In addition to Neptune's plans, the rig has other assignments lined up for 2023, including a partnership with ConocoPhillips Skandinavia to drill a firm well with the potential to drill two additional wells in PL 891 within the Norwegian Sea.

Eni is in the process of acquiring Neptune's entire portfolio, excluding its assets in Germany and Norway. The German operations will be separated before the acquisition's completion, while the Norwegian assets will be taken over by Eni's majority-owned subsidiary, Vår Energi. These transactions have a combined enterprise value of £3.6 billion.