Neptune Energy agrees to acquire interests in German fields

Neptune Energy announced it has agreed to acquire interests in several oil and gas fields in the Emsland and the Grafschaft Bentheim region of Germany from Wintershall Dea.

The agreement will increase Neptune’s existing interests in the Adorf, Apeldorn and Ringe gas fields and in the Adorf-Scheerhorn, Georgsdorf and Ringe oil fields. It will add approximately 1,800 barrels of oil equivalent per day (boepd) to Neptune’s production portfolio in Germany – an increase of around 10 percent.

Neptune operates all the fields that are part of the transaction, with the exception of the Georgsdorf oil field.

Neptune Energy’s managing director for Germany, Andreas Scheck, said: “Increasing our interest in these fields is of strategic importance for us, enhancing our production and underlining our commitment to a key producing area in Germany.

“We have been an operator or partner in these fields for many years and are well-positioned to leverage our experience in this region, which has long-term potential for energy production.”

The deal is subject to partner approvals, with completion expected in the first half of 2021.