VNG Norge acquired by Neptune Energy

Neptune Energy completed the acquisition of VNG’s Norwegian subsidiary VNG Norge. This is a big feat because Neptune will get three producing fields, two development projects, and 42 licenses, consolidating amongst the top five independent producers on the Norwegian Continental Shelf. This acquisition will strengthen the company’s subsea development, drilling, production and engineering. VNG Norge net production for 2017 was 4,000 boepd. Net reserves and resources were more than 50 mmboe as of 31 December 2017.