On 28 June 2018 Neptune Energy Group announced that it has agreed to acquire 100% of the shares of VNG Norge AS (which holds interests in Norway and Denmark â see separate article for details on Norway) with effect from 1 January 2018. The acquisition will increase Neptuneâs production by approximately 4,000 boe/d and its net reserves/resources by over 50 MMboe (based on 2017 figures). In Denmark, the company â through VNG Danmark - is partner in the 4/98 Solsort and 3/09 licences which contain the Solsort field. Approval for the acquisition is required from the Supervisory Board of VNG AG and from the relevant authorities. Completion is expected in Q4 2018.  VNG reported in January 2018 that it was assessing options for the future of its oil and gas business in Norway and Denmark. The company said that it saw long term value creation in the sector but was looking for a strategic partner to aid future growth. Reports in the press indicated that VNG would sell a majority stake in the subsidiary and that this sale could be valued at up to USD 500 million.  The Solsort field was discovered in 2010 by exploration well Solsort-1 (5604/26-5) which found oil in the Paleogene. The find was appraised in 2013 and oil and gas was tested from the Paleocene. The field lies in the Central Graben immediately east of the Svend field and northeast of the South Arne field, both of which are producing Chalk oil fields.  Interest in the 3/09 and 4/98 Solsort licences is held by INEOS E&P A/S (35% + operator), Bayerngas Danmark ApS, Danish North Sea Fund (20%) and VNG Danmark ApS (15%).
Neptune Energy has agreed to the acquisition of VNG Danmark, providing Neptune with interests in assets such as the Greater Njord Area / hub, Fenja, the Utsira High area, and Ivar Aasen. and Solsort devt project.