Neptune Energy

>£500m



Jamieson is pleased to announce that it has advised the management team of Neptune Energy on the proposed $3.9 billion acquisition of ENGIE E&P International S.A (“EPI”), the exploration and production arm of France’s ENGIE Group. The highly experienced management team is led by industry expert Sam Laidlaw, who has more than thirty years’ experience in the energy sector.

Neptune Energy, which is backed by funds advised by The Carlyle Group and CVC Capital Partners and a group of co-investors, was launched in June 2015 to focus on investing in large oil and gas portfolios that may come available as a result of energy market dynamics. The proposed transaction is subject to relevant consultation processes and customary regulatory approvals with completion expected by early Q1 2018.

The business that would be acquired by Neptune Energy includes significant North Sea operations in Norway, the Netherlands and the UK, with operatorship of the recently commissioned Cygnus gas field, as well as onshore Germany, and the Jangkrik LNG project in Indonesia. In all, EPI operates some sixty producing oil and gas fields.

“EPI is a strong business with a balanced portfolio of long-life assets with low operating costs in diversified geographies across the entire E&P value chain. We look forward to working with the EPI leadership team to grow the business organically and through acquisitions.  We intend to capitalise on the quality of EPI’s people and the company’s global asset portfolio, to generate long term sustained value for employees, the countries in which we are privileged to operate and for our investors. Our ambition is to create a leading international independent E&P company within the next 5 years.”

Sam Laidlaw, Executive Chairman

The Jamieson team, led by Ian Jamieson, Stephen Maxwell and Gus Gayford, advised Sam Laidlaw and the management team on the transaction.