Neptune Energy is working with an adviser studying a potential merge with Harbour Energy company, people familiar with the matter told Bloomberg.

Any deal may value the combined group at $10 billion or more, the sources added. The sources said also that Neptune studies other possibilities including an initial public offering (IPO) next year or outright sale.

According to Bloomberg, any transaction will be added to the $264 billion of deals announced in the energy industry this year.

The anonyms sources said to Bloomberg that Neptune is working with Rothschild & Co., Goldman Sachs Group Inc. and JPMorgan Chase & Co. to check options and it hasn’t made any final decision in this regard.