The Neptune consortium-formed by Maxus(US)Exploration(15%),BMP Billiton(designated operator,35%),Marathon Oil(30%)and Woodside Energy(20%)-has approved capital expenditure to develop the Neptune oil and gas field in the deepwater Gulf of Mexico.The Neptune facility will have a design capacity to produce up to 50,000 b/d of oil and 50mn cf/d of gas,with gross costs for the development estimated at some US850mn.
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