Page 11 - EurOil Week 03 2022

EurOil PROJECTS & COMPANIES EurOil

Neptune brings online

German gas well

GERMANY NEPTUNE Energy has brought on stream the Germany and demonstrates our desire to grow
Adorf Z16 development well in north-west Ger- our business here.”
Adorf is operated by many, achieving initial production tests of up to Higher flow rates at Adorf will help Neptune
Neptune with a 100% 2,800 barrels of oil equivalent per day (boepd). reverse a recent dip in production, which fell to
interest. Adorf Z16 is expected to boost Neptune’s 144,500 boepd in the first nine months of 2021
output at the licence by around 4,000 boepd, the from 148,600 boepd a year earlier. More signifi-
company said. cantly, the company is gaining from the August
Operated by Neptune with a 100% interest, launch of the Duva oil and gas field off Norway,
the Adorf field was discovered in 2020 and its which is set to produce 30,000 boepd at full
first well was launched in October of that year. capacity. Neptune said in mid-November it is
The Adorf Z16 well is targeting the Carbonifer- set to add a further 52,000 boepd to its produc-
ous formation at a depth of 500 metres. Drilling tion within the next two years on the back of new
commenced in September last year. project launches.
“The Adorf Carboniferous field is one of the Neptune already has another project at
most exciting discoveries in Germany in recent Adorf in the pipeline. It is constructing a new
years,” Neptune’s managing director in Germany, well pad at the site and a third well is scheduled
Andreas Scheck, said in a statement. “It is one to be drilled there in the second quarter of this
of Neptune’s most promising developments in year. ™

NEWS IN BRIEF

under Joe Biden quietly abandoned the Serbian oil and gas company NIS on the
Erdogan says Turkey remains project by submitting a non-paper to Athens transportation of crude oil in 2022.
explaining its reasons. Greek media have
interested in bringing Israeli reported that the non-paper described the reserved Janaf capacities for transportation of
For January-December 2022 NIS has
project as a “primary source of tension” and
gas to Europe following US something that would prove “destabilising” for 3.2mn tonnes of crude oil, plus or minus 10%,
the Croatian company said in a statement on
the region given the tensions it would cause
rejection of Cyprus route between Turkey and regional countries. the website of the Zagreb Stock Exchange.
Janaf operates 622 kilometres of pipelines
The $8bn EastMed pipeline project
Turkish President Recep Tayyip Erdogan was launched in 2020. Greece, Israel and and has crude oil and oil products terminals
on January 18 said that Ankara remains Cyprus inked an agreement to construct a on the island of Krk, as well as in Sisak, Virje,
interested in bringing Israeli gas to Europe via 1,900-kilometre natural gas pipeline. Turkey Slavonski Brod and Zitnjak.
Turkey. His comments came after a decision then protested that it would be laid through Croatia’s Ministry of State Assets holds a
made by Washington last week to not support disputed maritime territories claimed by both stake of around 52% in Janaf, followed by the
the eastern Mediterranean pipeline project Ankara and Athens. state centre for enterprise restructuring and
that would use a route that does not include In his comments on the US rejection of the privatisation, CERP, with 26%, and energy
Turkey. plan, Erdogan said it was hardly surprising firm INA with 12%. Croatian state oil pipeline
“If [Israeli gas] would be brought to that the US had withdrawn its support operator Janaf said on January 18 it has signed
Europe, it could only be done through because the project would have been very a deal with Serbian oil and gas company NIS
Turkey,” Erdogan told journalists, according costly. However, he also noted that Turkey on the transportation of crude oil in 2022.
to a transcript released by the presidency. “Is and Israel were of late enjoying positive For January-December 2022 NIS has
there any hope for now? We can sit and talk engagements with top-level communication. reserved Janaf capacities for transportation of
about the conditions.” Israel’s natural gas reserve thought to stand 3.2mn tonnes of crude oil, plus or minus 10%,
In 2016, Turkey and Israel held talks at around 800bn cubic metres. Approximately the Croatian company said in a statement on
on delivering Israeli gas using a pipeline 2.2 trillion cm of gas await discovery, it is the website of the Zagreb Stock Exchange.
that would enter Turkish territory. But the estimated. . Janaf operates 622 kilometres of pipelines
negotiations, held at a time when years-long and has crude oil and oil products terminals
tensions between the Turks and Israelis had on the island of Krk, as well as in Sisak, Virje,
eased, collapsed after Ankara expressed Croatia’s Janaf signs oil Slavonski Brod and Zitnjak.
outrage over Israeli actions in Jerusalem and Croatia’s Ministry of State Assets holds a
Gaza. transportation deal with stake of around 52% in Janaf, followed by the
The US Trump administration state centre for enterprise restructuring and
subsequently started pushing the merits of the Serbia’s NIS privatisation, CERP, with 26%, and energy
EastMed pipeline project, which would transit firm INA with 12%.
Israeli gas to Europe via Cyprus rather than Croatian state oil pipeline operator Janaf
Turkey. But last week the new US government said on January 18 it has signed a deal with

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