by david mcphee,energy voice

14/10/2019, 7:50 amUpdated: 14/10/2019, 1:27 pm

Neptune Energy has announced that it has entered into a conditional

sale with Energean for Edison E&P’s 25% stake of the giant Glengorm North Sea project

It is understood the central North Sea field holds up to 250 million barrels of oil – about 5% of the UK’s annual gas demand.

The North Sea-focussed firm will also acquire Edison’s stake in the Nova gas development project (15%) and the Dvalin (10%) gas development project in the Norwegian North Sea.

The deal will cost Neptune Energy nearly £200 million.

It will also buy Edison’s stake in the Scott (10.5%), Telf