Neptune Energy Group has clinched a deal to buy Norwegian oil and gas producer VNG Norge.
London-headquartered Neptune is acquiring the firm from VNG AG, a German natural gas wholesaler and energy service provider.
The purchase is expected to go through this year.
VNG Norge has 42 licences, five producing fields and three development projects, including a 30% stake in Fenja.
Net production for 2017 was an estimated 4,000 barrels of oil equivalent per day with a significant ramp up by 2022 as new capacity comes onstream.
It had reserves of more than 50 million barrels at the end of 2017.