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%.

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

In 2019, Neptune acquired interests in various other fields of the Grafschaft Bentheim and Emsland region from Wintershall Dea, which added approximately 600 boepd to its German production portfolio.

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

This announcement builds on Neptune’s commitment to continuously optimise existing production in a sustainable way and to develop new assets in this core region. Currently, the Adorf Carboniferous gas field is under development after successful discovery in 2020. The next development well is planned to be drilled in the first half of 2021.

About Neptune Energy Group

Neptune Energy is an independent global E&P company with operations across the North Sea, North Africa and Asia Pacific. The business had production of 144,000 net barrels of oil equivalent per day in 2019 and 2P reserves at 31st December 2019 of 633 million barrels of oil equivalent. The Company, founded by Sam Laidlaw, is backed by CIC and funds advised by Carlyle Group and CVC Capital Partners.

About Wintershall Dea

Wintershall Dea is Europe’s leading independent natural gas and oil company with more than 120 years of experience as an operator and project partner along the entire E&P value chain. The company with German roots and headquarters in Kassel and Hamburg explores for and produces gas and oil in 13 countries worldwide in an efficient and responsible manner. With activities in Europe, Russia, Latin America and the MENA region (Middle East & North Africa), Wintershall Dea has a global upstream portfolio and, with its participation in natural gas transport, is also active in the midstream business.

Wintershall Dea was formed from the merger of Wintershall Holding GmbH and DEA Deutsche Erdoel AG, in 2019. Today, the company employs around 2,800 people worldwide from over 60 nations.