Neptune Energy pushes on with $5billion sale as Eni cools
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.
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.
Eni had hoped to drill off Mozambique in 2020 but COVID-19 interrupted plans, Esgian analyst Matthew Donovan said.
Eni said the companies may work together in renewable energy, blue and green hydrogen, carbon capture and storage (CCS), tackling methane emissions and other areas.
Saipem’s contract did not, though, cover reactivation costs for the rig. As a result, Deep Value Driller entered into a loan facility for $75 million, which will mature in three years.
According to a recent Eni presentation, Agogo is due to start up in 2026. It will produce 175,000 barrels per day in 2027.
Italian contractor Saipem (MIL: SPM) has struck a memorandum of understand with its compatriot Eni (NYSE: ENI) in a bid to decarbonise its fleet.
Eni (NYSE: ENI) is toasting a set of “excellent financial and operating results” after a year in which it ensured “the security and stability of energy supplies” to Europe.
Indonesia has awarded a trio of exploration blocks to several consortia of oil and gas firms, in the first of a series awards expected this year.
Gas production at Eni’s (MIL:ENI) Blacktip gas field offshore northern Australia has fallen faster than expected raising fears about energy security in the Northern Territory. However, the Italian company hopes development drilling might reverse the decline.
Ghanaians should treat Mahama’s suggestion “with the utmost contempt it deserves”, the statement concluded.
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“Along with our partners, we are committed to drilling as soon as possible in 2023 an exploration well in Block 9, and our teams are mobilised to conduct these operations.”
Mellitah is the origin point for the Greenstream pipeline, which carries gas from Libya to Italy, via Sicily.
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The facility will allow LNG production to “significantly increase”, Expro said. It is intended to allow additional gas production support power generation.
Indonesia has approved a revised plan of development for Eni’s (MIL:ENI) Merakes and Merakes East gas fields with a total investment of $3.35 billion.
The Wison FLNG unit will be Eni’s second offshore Congo.
The East Mediterranean “has abundant energy resources, and their development is driving strategic collaboration in the region”.
“We look forward to commencing Apex’s first gas production in 2023 and becoming part of the exciting Egyptian natural gas success story,” he continued.
Wison Heavy Industries has won work to develop a floating LNG (FLNG) project for Eni off Congo Brazzaville.
The Italian company said it would incorporate the well results into its evaluation of the area. Eni has its eye on a fast-track development in Block 6, it said.
Eni has started producing power at a solar photovoltaic (PV) facility in Tunisia, connected up to the national grid.
Eni (MIL:ENI) has denied reports in Indonesia last week, citing a senior government official, suggesting that the Italian company had become the new operator of the Indonesia Deepwater Development (IDD) project, replacing Chevron.
Chevron has found gas off Egypt at its Nargis block, according to Welligence Energy Analytics.
Yinson Production has agreed to work on the Agogo FPSO for Azule Energy, in Angola’s Block 15/06.