Offshore staff
MELBOURNE, Australia – BHP has sold to EnVen Energy Ventures, LLC its 35% ownership interest and operatorship of the Neptune oil and gas field in the deepwater Gulf of Mexico.
Neptune is structured as a joint venture and is operated by BHP (35%) with co-owners EnVen Energy Ventures, LLC (30%), W&T Energy VI, LLC (20%) and 31 Offshore, LLC (15%).
Geraldine Slattery, BHP President Petroleum Operations, said: “This divestment enables BHP to further reshape our portfolio in line with our long-term strategy. The Gulf of Mexico remains a heartland for BHP and we continue to look for opportunities to grow and further develop our business in the region.”
BHP will continue to operate Neptune under contract as part of the transition agreement until transfer of both operatorship and ownership are approved by the regulator.
The Neptune field began production in July 2008. The development includes six subsea wells tied back to a TLP on Green Canyon block 613 in 4,250 ft (1,295 m) of water. The single-column TLP is designed to handle up to 50,000 b/d of oil and 50 MMcf/d of natural gas.
Neptune, 120 mi (195 km) offshore Louisiana, comprises five blocks: Atwater Valley 573, 574, 575, 617 and 618, where water depths range from 4,200 to 6,500 ft (1,275 to 2,000 m). Crude oil is transported to markets via the Caesar pipeline, while natural gas is exported via the Cleopatra pipeline.
05/21/2021
