Neptune believed to be poised for swoop on North Sea

The oil and gas investment company led by former Centrica boss Sam Laidlaw is thought to be in advanced talks to snap up French-owned assets in the North Sea.

A potential deal giving London-based Neptune Oil and Gas control over stakes in the Cygnus and Juliet gas fields in the southern North Sea, as well as interests in the central North Sea and west of Shetland was first reported last month.

Engie – formerly GDF Suez – put all its oil and gas upstream interests, including the much-delayed Cygnus development and the other North Sea assets, under “strategic review” earlier this year as it turned its focus on low-carbon activities.

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