An Apache Corp. subsidiary agreed to divest certain development and exploration assets in the UK Central North Sea to Neptune Energy Group for an undisclosed amount.
Neptune is set to acquire a 35% working interest in the Seagull development and a 50% working interest in the Isabella prospect from Apache, both operated by Apache North Sea Ltd. The Seagull development will consist of a multi-well subsea tieback project that will start 2019 and is expected to start producing before the first quarter of 2022. Neptune also expects drilling to start on the Isabella prospect during 2019, according to an Aug. 13 news release.
Neptune Energy is an independent global exploration and production company, active across the North Sea, North Africa and South East Asia.