Italian oil and gas company Eni has completed the acquisition of Neptune Energy Group, enhancing its natural gas portfolio. The $4.9bn transaction, first announced in June 2023, did not include Neptune Energy’s operations in Norway (Neptune Energy Norge) and Germany. The acquisition also presents potential synergies with projects that Neptune Energy is pursuing in Norway and the Netherlands. As per the initial announcement, Vår Energi, a company listed on the Oslo Stock Exchange and 63% owned by Eni, has acquired Neptune Energy Norge. Additionally, Neptune Energy’s activities in Germany were carved out before the sale of Neptune Energy to Eni was completed.

Source: The North Africa Journal February 01, 2024 14:53 UTC