H&G conducted Duva DG3 review

Hustad & Granaas (H&G) was engaged by Neptune Energy Norge AS to conduct an independent review of the Duva Project (formerly called Cara) ahead of the Final Investment Decision in February 2019. The preparations for the review started in the second week of January 2019, with the review itself spanning over just two weeks through till the end of the month.

The review was based on an H&G developed Basis for Review and the process focused on functional expectations of a project at this stage of development. The Basis for Review was shared and agreed with Neptune ahead of the review. The review process was flexible adapting to the customer's strategies and documentation. It was important for Neptune to minimize the disturbance to the team in a busy period of the project. The review was based on existing documents and limited to one day of project team interviews and one day of a result – focused management workshop.

The ten-person strong review team consisted of senior partners and subject matter experts from H&G and Duva license partners. The review was based in the Neptune offices in Stavanger.

According to a press release by Neptune, on 21st February 2019, they submitted the Plan for Development and Operation (PDO) of the Duva field. The Duva license consists of Idemitsu Petroleum Norge AS (30%), Pandion Energy AS (20%), Wellesley Petroleum AS (20%) and Neptune (30%; operator). First production is expected in late 2020/early 2021. Duva’s recoverable resources are estimated to be around 88m BOE. The field will be developed as subsea tie-back to the Gjøa platform for processing and export.