Neptune Energy Buys VNG Norge

Neptune Energy Buys VNG Norge
Neptune Energy Group completes the acquisition of VNG Norge AS.

Neptune Energy Group has announced that it has completed the acquisition of VNG Norge AS.

The transaction adds three producing fields, two development projects and 42 licenses to Neptune Energy’s existing portfolio.

“This acquisition represents an excellent strategic fit with our existing portfolio, adding competitive growth assets in core areas of the Norwegian Continental Shelf. It will further underpin Neptune’s Energy’s portfolio with broad operating skills in subsea development, drilling, production and engineering.” Neptune Energy CEO, Jim House, said in a company statement.

“The transaction is in line with our strategy of expanding our position in key jurisdictions with high quality and complementary assets,” he added.

“We look forward to welcoming the VNG Norge employees to Neptune Energy as we accelerate our ambition to create the leading independent international E&P business,” House continued.

Neptune Energy announced that it had agreed to acquire VNG Norge on June 28. On August 13, Neptune announced that it had entered into an agreement to acquire certain development and exploration assets in the UK Central North Sea from Apache North Sea Limited. In February this year, Neptune completed the acquisition of ENGIE E&P International SA.

Neptune Energy employs over 1,800 people, according to its website, which states that the company’s vision is to become a leading international independent E&P company within the next five years.


Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.