Eni deal a ‘clean exit’ for Neptune board amid low valuations for oil stocks
A top oil and gas analyst has given reasoning for Neptune Energy’s decision not to go down the public listing route.
A top oil and gas analyst has given reasoning for Neptune Energy’s decision not to go down the public listing route.
Eni acquired its environmental licence for Coral Sul in 2015. The FLNG facility shipped its first cargo in November 2022.
Eni reports production from 18 blocks, of which it operates 12 – with 10 offshore and two onshore. In the upstream, its focus is around the deep waters off Pointe Noire and, onshore, in Koilou.
Springfield is in conflict with Eni over this field. Springfield drilled the Afina discovery in November 2019.
Analysts have highlighted Neptune Energy’s bountiful gas reserves as a driving force behind its impending takeover.
Italian supermajor Eni’s (NYSE: E) takeover of Neptune Energy – a deal that has been rumoured for months – has officially been confirmed.
Italian energy group Eni (NYSE: E) is nearing a deal to acquire oil and gas explorer Neptune Energy Group for about $5 billion, according to people familiar with the matter.
Phase 2 will involve the use of an existing FPSO. Production is due to start by the end of 2024. This will allow Eni to export oil, while it will send gas onshore via a pipeline to power plants.
At over $8billion, big company corporate venture capital investment (CVC) in clean energy start-ups ran at a record high last year.
Following the sale of the bulk of its North Sea assets to Ithaca Energy, Summit has embarked on a new hydrogen-focused joint venture with Progressive Energy.
Flotation talks up Cenos and Green Volt; its next towering North Sea floating wind projects, and how it intends to ensure UK ports are involved.
Concerns over whether offshore carbon stores will stay watertight for centuries to come were addressed at an industry event this week.
International oil companies are searching for a way to settle a pair of multibillion dollar disputes with the government of Kazakhstan over operations at major oil fields, according to people familiar with the matter.
With awards rumoured to be on the way, we take a look at the companies who have announced public bids for acreage in the first UK CCS licensing round.
Eni will completely replace Russian gas supplies by 2024-25, it has said.
NOC said it had made “all necessary arrangements” to make up for the loss of gas during the downtime.
The licence is adjacent to the Pande and Temane fields. The Bonito well is the second drilled in the licence. The first failed to find hydrocarbons.
Eni posted a first-quarter profit that beat estimates on strong gas trading, but trimmed its full-year earnings guidance due to lower prices for the fuel.
Congolese Oil Minister Bruno Jean Richard Itoua signed a security agreement for Marine XII on March 20. The government approved a fiscal agreement on LNG production for the licence in December 2021.
PIAC reported that total petroleum revenues to the government reached $1.43 billion in 2022, the highest on record. However, production declined to 51.76 million barrels in the year, around 142,000 barrels per day, down 6% from 2021.
A senior Nigerian minister urged the country’s president to end a long-running dispute with Eni and Shell to allow the companies to finally develop a prized deepwater oil licence.
After nearly three years in dry dock, the Voyageur Spirit FPSO has now departed the UK for overhaul in Dubai ahead of redeployment with Eni off Cote d'Ivoire.
Installation of the subsea production system is under way and Eni aims to begin producing by June this year.
The companies operating two major oil fields in Kazakhstan are being taken to arbitration by the nation’s government, with billions of dollars of revenue at stake amid allegations of unapproved spending, according to people familiar with the matter.
Neptune Energy is moving ahead with plans for a sale after talks about a takeover by Italian energy group Eni (MI: ENI) cooled, people with knowledge of the matter said.