Neptune Energy completes acquisition of Engie E&P
LONDON -- Neptune Energy Group has announced the completion of the acquisition of Engie E&P International SA (EPI). The transaction sees Neptune become an international independent E&P company across the North Sea, North Africa and Southeast Asia, producing 154,000 net boed 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.
