Friday 16 February 2018

Neptune Energy has announced the completion of the acquisition of ENGIE E&P International ('EPI'). The transaction sees Neptune become an international independent E&P company across the North Sea, North Africa and South East Asia, producing 154,000 net barrels of oil equivalent per day in 2017.

Neptune’s new global platform offers a sustainable asset base throughout the E&P value chain, a good balance of oil and gas and with low operating costs. The North Sea region benefits from a strong operating base in strategic assets such as Cygnus in the UK and Gjøa in Norway, while Neptune is the leading offshore operator in the Netherlands. North Africa and Southeast Asia provide near-term gas volume growth into strengthening markets while Germany offers a strong, long-life oil production base.