Neptune, an investment firm established in 2015 by an ex-Centrica boss Sam Laidlaw, offered to buy Engie’s 70% interest in EPI for an aggregate value of €4.7 billion (at 100%, including €1.1 billion in decommissioning liabilities deconsolidated from Engie’s balance sheet).
Neptune Energy has taken a big step forward in its ambition to become the world’s leading oil and gas independent. The UK-based company, which was set up by Centrica boss Sam Laidlaw with private equity backing, has completed its takeover of Engie E&P International. The deal saw the company pick up a portfolio of predominantly gas assets at various locations around the world with output net to Neptune of around 154,000 boepd. This puts the new entrant at a similar production level to fellow independent Aker BP from Norway.