Eni to acquire Neptune Energy, with Norway assets going to Var, in $4.9bn deal
Italian supermajor Eni’s takeover of Neptune Energy – a deal that has been rumoured for months – has officially been confirmed. A sale and purchase agreement has been formally agreed between the two groups, with Eni-owned Var Energi simultaneously signing a deal for Neptune’s Norwegian assets. The combined value of both transactions is $4.9 billion, subject to […]
Italian oil major Eni resumes talks to acquire Neptune Energy
The Italian major first approached Neptune looking for a buyout in December last year. Italian oil major Eni has resumed talks to acquire independent producer Neptune Energy, after a first round of discussions over a potential takeover last year, Reuters reported. A new round of conversations reportedly started between the two companies in recent weeks, […]
TotalEnergies-led consortium to start drilling offshore Lebanon in September
TotalEnergies, Eni and QatarEnergy have assigned a rig for the offshore southern block and will start drilling for oil and gas off the coast of Lebanon later this year. A consortium led by TotalEnergies will start drilling for oil and gas off the coast of Lebanon at the beginning of September, the country’s caretaker energy minister […]
Eni prepare to drill new Mediterranean exploration well at North East Hap’y concession
Eni is preparing to start drilling an exploration well at its Mediterranean North East Hap’y concession in September, Al Mal reports, citing anonymous industry sources. One of the company’s operating companies in Egypt, the Belayim Petroleum Company (Petrobel),will handle the drilling of the Orion X1 well, which is expected to cost USD 130 mn, the newspaper’s sources say. Eni […]
Saipem completes all Zohr planning and development phases
Saipem oversaw the development of all phases of the Zohr project, from basic design to the installation of all necessary subsea pipelines transporting gas to ground handling facilities in Port Said. The Saipem project team oversaw the development of all phases of the Zohr project, from basic design to the installation of all necessary subsea […]
Eni’s gas production in Egypt down by 6% in 4Q 2022
Eni gas production in Egypt down in 4Q 2022: Eni’s natural gas production in Egypt fell 6% y-o-y in 4Q 2022, contributing to a fall in the company’s overall gas output, the Italian energy giant said in its earnings release Thursday. The company produced 1,331 mn cubic feet per day in the October-December period, down from 1,414 […]
Eni announces New Gas Discovery in Eastern Mediterranean Sea, offshore Egypt
Eni announces a significant new gas discovery at the Nargis-1 exploration well located in Nargis Offshore Area Concession, in the Eastern Mediterranean Sea, offshore Egypt. The Nargis-1 well has encountered approximately 200 net feet (61 m) of Miocene and Oligocene gas bearing sandstones and was drilled in 1,014 feet (309 m) of water by the […]
Eni shoots for stars with 11 Tcf probe offshore Egypt – Upstream Online
Well targets huge Thuraya prospect – named after Pleiades constellation – in block that may host extension of Chevron’s Nargis discovery. Italian major Eni could be weeks away from unveiling another massive new gas discovery offshore Egypt, although it is too early to know for sure. If the Thuraya-1 probe meets expectations, its gas would […]
Eni reported to be in preliminary talks to buy Neptune Energy for $5-6 billion
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. […]
Eni looks to establish 10 GW of solar & wind projects in Egypt, boost gas exports to Europe
Eni to go big on Egypt’s renewable energy sector? Eni could establish 10 GW of renewable energy projects in Egypt “in the forthcoming years,” the Italian energy giant said in a statement. The company’s CEO, Claudio Descalzi, “agreed on the opportunity to implement” the solar and wind projects during a meeting with President Abdel Fattah El Sisi […]
