Eni and Neptune sign acquisition deal
The Italian firm continues to increase the share of gas in its growing portfolio
Eni has signed a deal to acquire most of UK independent oil and gas producer Neptune Energy, including what the Italian IOC terms “a world-class portfolio of gas-orientated assets”. Eni has agreed to purchase Neptune’s portfolio in North Africa, Indonesia, Australia and Western Europe, with the exception of its Norwegian and German operations. Var Energi—an Oslo-listed company of which Eni is the largest shareholder, with 63pc—signed a simultaneous agreement to buy Neptune’s Norwegian operations, while the German business will be spun off into a separate entity, owned and operated by Neptune’s existing shareholders. Neptune is owned by sovereign wealth fund China Investment Corporation (49pc
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