Eni is in talks to buy gas and oil producer Neptune Energy for around $5 billion -$6 billion, although no official bid has been made.
Neptune produces around 130,000 barrels of oil equivalent per day three-quarters of which is gas. It has operations in Norway, Britain, Indonesia and elsewhere.
Neptune is owned by the private equity group China Investment Corporation (CIC), the Carlyle Group (CG.O) and CVC Capital Partners.
