An N¯N potential is introduced which is derived within chiral effective field theory and fitted to up-to-date N¯N phase shifts and inelasticities, provided by a proper phase-shift analysis of available p¯p scattering data. As an application of this interaction neutron-antineutron oscillations in the deuteron are considered. In particular, results for the deuteron lifetime are presented, evaluated in terms of the free-space n−n¯ oscillation time, utilizing that N¯N potential together with an NN interaction likewise derived within chiral effective field theory.