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  • Data analysis Engie to Divest 70% Stake in EPI to Neptune Oil & Gas

    Engie has received a firm and binding offer from Neptune Energy to acquire 70% interest in Exploration & Production International (EPI) for an aggregate €4.7 billion (US$5.1 billion) (at 100%, including €1.1 billion in decommissioning liabilities deconsolidated from Engie’s balance...

    Engie to Divest 70% Stake in EPI to Neptune Oil & GasData analysis
    Headlines, Global Deals

    Engie has received a firm and binding offer from Neptune Energy to acquire 70% interest in Exploration & Production International (EPI) for an aggregate €4.7 billion (US$5.1 billion) (at 100%, including €1.1 billion in decommissioning liabilities deconsolidated from Engie’s balance sheet).

    EPI is headquartered in France and has upstream oil and gas interests in the United Kingdom, Norway, Germany, the Netherlands, Indonesia, Algeria and Egypt. As of 31-Dec-2016, EPI had booked 2P reserves of 672 MMBOE and its equity production was 148 MBOE/d in 2016. As part of the envisaged transaction, Engie would keep a 30% interest in the Touat project in Algeria.

    Neptune Energy is a UK-based company backed by funds advised by The Carlyle Group and CVC Capital Partners, and a sovereign investor, dedicated to investing in upstream oil and gas activities.

    The envisaged transaction is expected to be completed by early Q1-2018.

    View Engie press release

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