Eni's logo is seen in front of its headquarters in San Donato Milanese, near Milan, Italy, April 27, 2016. REUTERS/Stefano Rellandini/File Photois in preliminary talks to buy private-equity backed gas and oil producer Neptune Energy for around $5 billion -$6 billion, a source with knowledge of the matter said on Wednesday, adding that no official bid had been submitted.
Neptune produces around 130,000 barrels of oil equivalent per day , three-quarters of which is gas. It has operations in Norway - home to Eni's Var unit - Britain, Indonesia - where Neptune shares licences with Eni - Algeria, the Netherlands and elsewhere.It has guided for its 2022 post-tax operating cash flow to reach $2.5 billion-$3 billion and expects production to grow to 165,000 boed next year.
A banking source confirmed talks had taken place in recent weeks, but that the outcome was "far from guaranteed" as valuations differed.
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