TotalEnergies is weighing up a bid for private equity-backed oil and gas company Neptune Energy, according to a report by Bloomberg news agency, citing people with knowledge of the matter.

Neptune, which is backed by Carlyle Group and CVC Capital Partners, could be valued at more than $5 billion in a sale, according to an earlier Bloomberg News report.

Neptune, which has exploration and production assets in the UK and Norwegian sectors of North Sea, as well as Algeria and Egypt and several other locations, reportedly attracted interest from Italian energy group Eni last year, but no deal was forthcoming.