Neptune takes outright control of ENGIE E&P

Neptune Energy Group has completed its acquisition of ENGIE E&P International.

Offshore staff

LONDONNeptune Energy Group has completed its acquisition of ENGIE E&P International.

Following the transaction, Neptune has E&P interests across the North Sea, North Africa, and Southeast Asia, which in 2017 produced a net 154,000 boe/d.

North Sea producing fields include Cygnus in the UK’s southern gas basin andGjøa offshore Norway, while in the Dutch sector Neptune becomes one of the leading offshore operators.

CEO Jim House said: “The business is driven by a dynamic organization of more than 1,800 staff working across exploration, appraisal, development and production.

Oil & Gas UK chief executive Deirdre Michie commented: “Having an enterprising company like Neptune growing with the North Sea at the heart of its business is also good news for the future of the UK oil and gas industry.

“This transaction highlights that the UK oil and gas sector continues to offer smart investors good commercial opportunities on the back of the huge efficiency improvements of recent years.”

02/16/2018

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