The approval is a result of Neptune’s continuous efforts to increase the field production limit at Römerberg for more than six years and was based on a comprehensive environmental impact assessment and public consultation
Römerberg oil and gas field in Germany. (Credit: Neptune Energy)
UK-based Neptune Energy has secured approval from the State Mining Authority for Rhineland-Palatinate to increase the production at its Römerberg oil field in the Rhine Valley, Germany.
The approval enables the UK-based oil and gas company to increase oil production by up to three times the current limit of 3,700 barrels of oil equivalent per day (boepd).
Neptune, together with its licence partner, intends to advance plans for the construction of new wells and surface facility upgrades at the Römerberg field.
The decision comes at a crucial time for energy security in Germany and supports its investment strategy for the Römerberg field, said the company.
Neptune Energy Germany managing director 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 said that the current approval is a result of its continuous efforts to increase the field production limit at Römerberg, for more than six years.
The approval was based on a comprehensive environmental impact assessment and public consultation, said the company.
Römerberg is a producing conventional oil field located onshore Germany, which was discovered in 2003 and production started in 2007
It is the largest oil field that Neptune operates in the Rhine Valley, spanning a 5-6km² area, and produces more than 3kboe of crude oil daily.
Neptune is currently drilling the ninth production well on the Römerberg field, which is expected to come on stream in the fourth quarter of this year.
Earlier this year, the company announced its plans to invest more than $1bn in the UK to secure the country’s energy supplies and emissions goals, for the coming five years.