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, […]
Neptune Energy updates Egypt, North Sea, Indonesia drilling schedule
Neptune Energy expects the Gudrun Field electrification project in the Norwegian North Sea to start up in the fourth quarter, the company said in its latest results statement. The Statoil-operated platform will receive power from shore via a connection to facilities serving fields in the Utsira High area. Later this year Neptune plans to drill […]
Neptune prepares for well on Yakoot gas prospect offshore Egypt
Neptune Energy provides offshore Egypt and Indonesia project updates in its full-year 2022 report. Neptune Energy expects to drill its first operated well this summer in Egypt’s North West El Amal concession in the southern Gulf of Suez. The well, targeting the Yakoot structural trap in shallow water, follows the acquisition of 3D seismic in 2020. […]
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. […]
Mohamed Mounes joins Neptune Energy as Egypt Managing Director
Neptune Energy today announced Mohamed Mounes Shahat will join the company in December to take on the role of Egypt Managing Director, based in Cairo. Mounes joins Neptune from Egypt’s Ministry of Petroleum, having most recently held the position of Minister’s Advisor for Gas Affairs. With almost 40 years’ experience, Mounes has a strong technical […]
Neptune Energy digitalises drilling & wells with Halliburton Cloud Apps
Neptune Energy announced it will adopt Halliburton’s DecisionSpace 365 well construction suite of cloud applications to consolidate all global drilling and wells activities, improve efficiency and significantly reduce non-productive time, leading to potential annual savings of more than $20 million. The three-year agreement – part of Neptune’s digital subsurface programme – will create a platform […]
Neptune Energy completes OBN seismic survey offshore Egypt
Neptune Energy announced the successful completion of an ocean bottom nodes (OBN) multiclient survey in the North West El Amal block, offshore Egypt, delivering promising results for further analysis. The project, prefunded by Neptune, was carried out by WesternGeco, the seismic and geophysical data solutions division of Schlumberger, under a contract with the Egyptian General […]
Neptune Energy signs operated exploration licence offshore Egypt
Neptune Energy signed an operated exploration licence with the Egyptian General Petroleum Corporation (EGPC) for Egypt’s North West El Amal Offshore Concession, underlining the company’s commitment to growing its presence in North Africa, an important region for the business. Neptune will acquire 100 km2 of 3D seismic data and drill one exploration well in the first […]
Neptune acquires Edison’s North Sea assets from Energean in $250m deal
UK operator inks conditional deal worth up to $280m for non-core E&P holdings with Energean. Energean to hive off Italian group’s Norwegian and UK projects once its purchase completed. Neptune Energy has entered into a conditional sale and purchase agreement with Energean to acquire Edison E&P’s UK and Norwegian producing, development and exploration assets for […]
