Energean Oil and Gas and Neptune Energy have agreed to terminate the latter’s proposed acquisition of Edison E&P’s UK and Norwegian subsidiaries from Energean.
Energean remains in talks with Edison S.p.A. on amendments to its sale and purchase agreement for Edison E&P, which could lead to the Norwegian subsidiary being excluded from the transaction.
In that case Energean would retain the UK subsidiaries, the assets of which include a 25% interest in the 250-MMboe Glengorm gas/condensate discovery and 10% in the Isabella discovery, both in the UK central North Sea.
