Private equity-backed Neptune Energy
and Germany’s DEA Deutsche Erdoel are
reportedly bidding for the upstream oil and
gas assets of Edison, the Italian
unit of French electric utility EDF.
Unnamed sources told Reuters that
the offers are in the non-binding
stage. Edison seeks to sharpen its focus on
gas retail and domestic electricity.
Edison’s prized upstream asset is
the Abu Qir concession in Egypt. Holding
an estimated 250 MMboe in 2P reserves,
Abu Qir makes up over half of the value of
Edison’s entire portfolio. One of......
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