Neptune Energy has announced that it has entered into a conditional sale with Energean for Edison E&P’s 25% stake of the giant Glengorm North Sea project
A sizeable stake in one of the UK North Sea’s largest gas discoveries in years will come on the market once a major acquisition goes through later this year.
Energean’s £600 million acquisition of Italian firm Edison E&P has handed the company stakes in a number of UK North Sea assets, including a major discovery.
Chinese, French and Italian energy firms are celebrating the biggest gas find in the UK North Sea in more than a decade.
A unit of EDF said it wants to triple its Italian customer base and buy Eni's retail base.