Neptune flags North Sea project delays as industry spending falls

摘要

London—London-based Neptune Energy announced Wednesday several delays to upstream oil and natural gas projects in the North Sea, including ones with BP and Norway’s Equinor, along with more spending cuts intended to weather the fall in commodity markets. In a statement, Neptune said state-controlled Equinor was no longer planning to start production this year from a major project to redevelop the Njord oil field, which would instead come on stream in the second half of 2021, resulting in a knock-on delay to a satellite project Neptune is working on known as Fenja.