One of the biggest producers of gas in the UK’s North Sea will be bought by Italian oil giant Eni after the two agreed a £2.1bn deal.
The deal will see Eni take over Neptune Energy, with Norway’s Vår Energi buying its sites in the Norwegian continental shelf for a further £1.8bn. Vår is majority owned by Eni.
Neptune’s business in Germany is not part of the transactions and will continue to be owned and operated by the ultimate existing Neptune shareholders as a standalone group.
