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04 May 2021 (Last Updated May 4th, 2021 16:50)
Spirit Energy has agreed to partner with Neptune Energy to develop the Pegasus West gas discovery in the UK southern North Sea.
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The Cygnus installation at Greater Cygnus Area offshore UK. Credit: Spirit Energy Limited.
Spirit Energy has agreed to partner with Neptune Energy to develop the Pegasus West gas discovery in the UK southern North Sea.
Neptune Energy has acquired Spirit Energy’s 38.75% equity interest in the Pegasus West discovery and surrounding acreage including P1724, P1727, P4257 and P2128.
Spirit Energy holds the remaining 61.25% stake and serves as operator.
Neptune Energy UK managing director Alexandra Thomas said: “The alignment of interests with Spirit Energy in the Pegasus West development offers material benefits of faster development, lower costs and lower carbon intensities as well as optimisation of production operations throug