Further to DEA 8 Mar â19, Energean has emerged as the suitor for the acquisition of EdF-controlled Edisonâs upstream division in an up-to USD 850 MM deal.Â  Edison intends to focus on the retail sector and shy from fossil energy. Apart from interests at home in Italy, Edison brings Energean rights in Algeria, Croatia, Egypt, Norway + the UK offshore. The deal will establish Energean as a leading gas-focused E&P co. in the Mediterranean theatre.
Energean Oil & Gas has acquired Edison E&P in deal worth up to US$850 MM. This acquisition would add 292 MMboe in 2P reserves and about 69 000 boe/d of production from producing assets in Egypt, Italy, Algeria, the UK North Sea and Croatia, development assets in Egypt, Italy and Norway.