North Sea independents aim to reap carbon footprint benefits

Two of the basin’s larger producers consider ways to cash in on relatively greener production

Sweden-headquartered Norwegian continental shelf operator Lundin Energy and the UK’s Neptune Energy both found themselves the subjects of takeover rumours in late November. The very low carbon footprint of the former’s oil—due to most of it coming from modern developments powered by renewable electricity from the Norwegian grid—and the gas focus of the latter’s portfolio are seen as key potential selling points. Lundin “has noted recent speculation in the markets”, the firm said after its share price jumped by more than 10pc on 29 November. “The company continuously engages in opportunities that are potentially value-accretive to its shareholders. In that context, the company does at times h