Private equity-backed Neptune Energy is closing in on sanctioning its Seagull development, a planned tie-back to BP’s nearby Eastern Trough Area Project (ETAP) facilities in the UK central North Sea, writes Rob Watts.
“We’re moving towards sanction,” a Neptune spokesman told Upstream this week, although he declined to reveal any timescale.
According to industry sources, a final investment decision is expected to be taken imminently, possibly within the next couple of weeks, but this remains unconfirmed.
