Neptune Cuts Exploration to Focus on Output

Carlyle-backed Neptune Energy has terminated Gro Haatvedt's position as vice-president of exploration and development with effect from end-September, it said June 11. She will continue to work for Neptune supporting the technical review of exploration and development prospects and geological and geophysical activity. She will also advise on the ongoing development of Neptune’s digital subsurface solutions.

Her finds for Neptune include Isabella in the UK, Echino South and Sigrun East in Norway and Schwegenheim in Germany.

Neptune said the senior management change "reflects a group structure more focused on those activities that will deliver most value in prevailing market conditions. As a result, exploration and development will be focused on prospects that are most cost-effective in the short-term and most value-creating in the long-term."

From October, the exploration and development team will report to Andrea Guerra, who has been at the company since 2018, in the new combined role of VP Subsurface.