NEPTUNE Energy today announced approval from the State Mining Authority for Rhineland-Palatinate to raise the production limit at its operated Römerberg oil field in the Rhine Valley, south-western Germany, enabling Neptune to increase oil production by up to three times the current limit of 3,700 barrels of oil equivalent per day (boepd).
Neptune will continue working with its licence partner to progress plans for new wells and surface facility upgrades.
The decision comes at a crucial time for Germany’s domestic energy security, and supports Neptune Energy’s investment strategy for the Römerberg field and its wider German business portfolio.
Neptune Energy’s Managing Director in Germany, Andreas Scheck, said: “The decision by the mining authority enables Neptune to mature our full-field development plans for the Römerberg oil field, including significant investment in surface facilities to support higher production rates, upgrade water treatment and reduce emissions associated with flaring.
“We are committed to further developing the Römerberg oil field and to increasing production capacity over the coming years, while continuing to contribute secure supplies of domestic energy for Germany.”
Neptune has been working for more than six years on the application to increase the field production limit at Römerberg, which included a comprehensive environmental impact assessment and public consultation.
The company is currently drilling the ninth production well on the Römerberg field, whichis due to come onstream in the fourth quarter of this year.
The Römerberg oil field was discovered in 2003 and production began in 2007.
