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Oil & Gas

Eni reported to be in preliminary talks to buy Neptune Energy for $5-6 billion

Posted: December 3, 2022 at 12:12 pm   /   by   /   comments (0)

Eni is in preliminary talks to buy private-equity backed gas and oil producer Neptune Energy for around $5 billion -$6 billion, a source with knowledge of the matter said on Wednesday, adding that no official bid had been submitted.

Neptune produces around 130,000 barrels of oil equivalent per day (boed), three-quarters of which is gas. It has operations in Norway – home to Eni’s Var unit – Britain, Indonesia – where Neptune shares licences with Eni – Algeria, the Netherlands and elsewhere.

(Source: Reuters)