Neptune Energy announced it has acquired a 38.75% equity interest from Spirit Energy in the Pegasus West discovery and surrounding acreage (P1724, P1727, P4257 and P2128) in the UK Southern North Sea. Pegasus West was discovered in 2014 and is currently operated by Spirit Energy. Entry by Neptune into the Pegasus West Area aligns interests in both the discovery and the Neptune-operated Cygnus gas facility (Neptune Energy 38.75% and operator, Spirit Energy 61.25%) enabling acceleration of the development of Pegasus West as a subsea tieback to the existing Cygnus field. Neptune Energy has a 25% minority interest in ETS. About Neptune Energy GroupNeptune Energy is an independent global E&P company with operations across the North Sea, North Africa, and Asia Pacific.

Source: The North Africa Journal May 07, 2021 10:18 UTC