Eni closes in on Neptune Energy acquisition

Italy

ROME, June 8, 2023 – Eni has entered exclusive talks to acquire independent E&P player Neptune Energy for below USD 6 billion, Reuters reported on Tuesday.

The two companies entered into preliminary negotiations in November 2022.

According to sources, Eni has raised its original asking price.

London-headquartered Neptune Energy produced around 142,000 boepd in Q1 2023, with 75% of its production being gas.

The company holds global concessions around the world, including Norway, the UK, Indonesia, Algeria, Germany and the Netherlands.

Neptune Energy is owned by China Investment Corporation, the Carlyle Group and CVC Capital Partners.

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