Neptune Energy has received a platinum medal award from the environment, social and governance (ESG) ratings organization, also called EcoVadis.
EcoVadis assesses companies’ policies, actions, and performance in four key areas: environment, labour, and human rights, ethics and sustainable procurement. The first two areas have the greatest influence on a company’s ESG rating.
The platinum medal award, the highest rating available from EcoVadis, places Neptune in the top 1% of more than 100,000 global companies assessed by the organization. The award followed Neptune’s best ESG rating by Sustainalytics in April this year.
Neptune Energy is an independent global E&P company with operations across Europe, North Africa and Asia Pacific.
It is worth noting that Neptune is one of the leading companies that have oil and gas projects in Egypt.
On August 23rd, Neptune commenced drilling operations at Yakoot exploration well, located in the northwest Al Amal concessions in the southern Gulf of Suez, Egypt. It is the first operated well to be drilled by Neptune in Egypt.
The operation is being carried out with the ADM-8 rig, operated by ADES, and has a final target depth of around 3,600 meters.
“Drilling the Yakoot prospect is a significant milestone for Neptune in Egypt, and we are grateful for the support of the Egyptian Petroleum Ministry and the Egyptian General Petroleum Corporation (EGPC),” said Neptune Energy’s Managing Director in Egypt, Alexandra Thomas.
“After many months of careful preparation, working closely with our stakeholders and partners, we are fully focused on safely drilling this strategically important well,” she said.
Egypt’s cooperation with Neptune Energy to investigate growth opportunities in the country dates back to 2010, when it worked at Alam El Shawish West, one of the biggest natural gas fields in Egypt’s Western Desert, along with Cheiron, Capricorn, and NPIC companies.
The gas field is tied back to the CO2 removal plant, and then to the BED-3 gas processing facility in the adjacent block.
