Neptune Energy completes acquisition of VNG Norge

Subscribe to our newsletter and get the latest news and business opportunities in your inbox

Neptune Energy has completed the acquisition of VNG Norge, an integrated oil and gas exploration and production company in Norway.

The transaction adds three producing fields, two development projects and 42 licences to Neptune Energy’s existing portfolio, consolidating the company amongst the top five independent producers on the Norwegian Continental Shelf, by equity production.

The VNG Norge asset base is highly complementary to Neptune Energy’s existing Norwegian portfolio, strengthening its equity position in the greater Njord area to 22.5 per cent in Njord itself as well as a 30 per cent interest in, and operatorship of, the Fenja development project. Fenja is a sub-sea development, which will be produced as a tie-back to the Njord production hub, and is scheduled to come on stream in 2021.

VNG Norge net production for 2017 was 4,000 boepd with a significant ramp up by 2022 as new production comes onstream. Net reserves and resources were more than 50 mmboe as of 31 December 2017.

List of the country updates

Country updates

  • September 25, 2018

    Siemens Gamesa to supply 30 MW wind project in Norway

    Eolus Vind AB has signed an agreement with Siemens Gamesa for the delivery of seven wind turbines with a total generation capacity of 30 MW for the Stigafjellet wind project in Norway. The seven...

    Read more
  • September 10, 2018

    Skanska to construct 23.4 MW hydropower project in Norway

    Skanska has been awarded a contract to build a hydroelectric power plant in the Tolga municipality of Hedmark county, Norway. The contract is worth NOK582 million (US$70.14 million). ​ Construct...

    Read more
  • September 05, 2018

    Pöyry awarded Owner's Engineering Services assignment for biocrude production plant in Norway

    Pöyry has announced that it has been awarded an Owner's Engineering Services assignment for the pre-engineering phase for a planned biozin® production plant in Norway. Owned by Biozi...

    Read more
  • August 29, 2018

    Equinor to develop US$600 million floating offshore wind farm to power oil and gas platforms in the North Sea

    Equinor has announced plans to power the Gullfaks and Snorre fields in the North Sea with an 88 MW floating offshore wind farm. 

    Read more
  • August 28, 2018

    MEAG and Luxcara structure a project bond to finance a 294 MW wind farm in Norway

    Luxcara, an asset manager for renewable energy investments, and MEAG, the asset manager of Munich Re and ERGO, have initiated and structured a project bond to finance the wind farm in Norway. A...

    Read more

Share this update