Eni SpA and Var Energi ASA to Acquire Neptune Energy Group Ltd Call Transcript
Good afternoon, ladies and gentlemen, and welcome to the conference call covering today's announcement of Eni's purchase of Neptune Energy, hosted by Mr. Claudio Descalzi, Chief Executive Officer. (Operator Instructions) I am now handing you over to your host to begin today's conference call.
Thank you. Good afternoon, and welcome to our conference call to discuss today's announcement concerning the agreement of Eni and VÃ¥r to acquire Neptune Energy. I'm sure you will have had a chance by now to read our press release published this morning and see related information published by VÃ¥r Energi.
Together, we have agreed to purchase Neptune Energy with VÃ¥r acquiring the Norwegian asset and Eni acquiring the remaining portfolio with the exception of German operation. Between us, we are paying $4.9 billion to acquire Neptune, including debt, with Eni paying $2.6 billion for the international business. That equates to an attractive 2P acquisition price of $10.1 per barrel for a business expected to
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