Neptune Energy has made an oil discovery at the Dugong well (PL882) in the Norwegian North Sea, with recoverable resources estimated at 40-120 Mboe. In addition, the company has significantly de-risked another prospect in the licence estimated by Neptune at 33 Mboe, raising the total resource potential in PL882 to 153 Mboe. Neptune Energy is the operator of the Dugong licence with a 40% stake in partnership with Concedo (20%), Petrolia NOCO (20%), and Idemitsu Petroleum Norge (20%). The license was awarded during the Awards in Predefined Areas (APA) in 2017.
In November 2019, Equinor made an oil gas discovery at exploration well 35/11-23, Echino South, near the Fram field in the Norwegian North Sea, with recoverable resources estimated at 38-100 Mboe. The new discovery should be linked up to existing infrastructure in the area. Equinor owns 45% of the licence in partnership with ExxonMobil (25%), Japanese oil & gas group Idemitsu (15%) and Neptune Energy (15%).