Neptune Energy bosses insist the firm is “resilient enough to meet the challenges of today” as they hunker down for a prolonged period of low oil and gas prices. Executive chairman Sam Laidlaw said Neptune had reacted to the crude price slump and Covid-19 outbreak with “speed and decisiveness”. Neptune, operator of the Cygnus field in the UK southern North Sea, has also implemented a “pandemic emergency plan”, altering shift patterns, cutting non-essential activities and screening workers. Output was hindered by delayed start-up and slow ramp-up at the Touat project project in Algeria, and in the North Sea due to third-party issues related to export systems. Those include the 50m barrel Seagull field, which is being developed as a tieback to BP’s Etap platform in the central North Sea.
Source: The North Africa Journal March 31, 2020 08:26 UTC