Norway drilling pays off
Neptune targets four projects under Norway’s enhanced tax regime
The London-headquartered producer hopes to fast-track FIDs to hit the 2022 deadline for relief
Neptune Energy plans to take FID on its Norwegian Dugong oil discovery in 2022 in order to file a plan for development and operation (PDO) ahead of the expiry of temporary changes in the Norwegian tax regime at the end of next year. But Dugong is just one of four discoveries at which the firm is evaluating accelerated development to try to benefit before the loophole closes. In mid-2020, the Norwegian parliament approved changes to the country’s petroleum tax regime providing accelerated recovery for investments and tax refunds for 2020 and 2021 spending. But the legislation also applies to new projects submitted for PDO before the end of 2022. Neptune is looking to see if its Echi
Also in this section
19 January 2026
Newfound optimism is emerging that a dormant exploration frontier could become a strategic energy play and—whisper it quietly—Europe’s next offshore opportunity
16 January 2026
The country’s global energy importance and domestic political fate are interlocked, highlighting its outsized oil and gas powers, and the heightened fallout risk
16 January 2026
The global maritime oil transport sector enters 2026 facing a rare convergence of crude oversupply, record newbuild deliveries and the potential easing of several geopolitical disruptions that have shaped trade flows since 2022
15 January 2026
Rebuilding industry, energy dominance and lower energy costs are key goals that remain at odds in 2026
