Petroleum Africa
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Friday, December 2, 2022
According to Bloomberg and Reuters reporting, Italian major Eni is interested in picking up the UK firm Neptune Energy.
Neptune Energy is an independent global E&P company with operations in both Egypt and Algeria, as well as in Europe and Asia Pacific. The business had production of 130,000 net barrels of oil equivalent per day in 2021 and 2P reserves as of December 31, 2021 of 604 million barrels of oil equivalent.
In Algeria, Neptune Energy is the joint operator of the Touat gas plant, through the Groupement Touat Gaz Joint Venture, consisting of Sonatrach, the National state-owned Algerian oil and gas company (joint operator) and Engie. First gas was achieved in 2020 and the asset will operate for in excess of 20 years. The plant connects to the GR-5 pipeline, a major artery for Algeria’s gas export.
The company’s assets in Egypt consist of the producing Alam El Shawish West asset in the Western Desert, and the operated North West El Amal in the Gulf of Suez.
Photo credit: Neptune Energy
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