TotalEnergies Forms NEO NEXT+ in UK North Sea Merger, Becomes Top Independent Producer
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The latest update is out from TotalEnergies SE ( (FR:TTE) ).
TotalEnergies has completed the merger of its UK North Sea upstream oil and gas business with NEO NEXT, creating a combined entity renamed NEO NEXT+ in which TotalEnergies holds a 47.5% stake. The new company is set to become the largest independent oil and gas producer on the UK Continental Shelf, with expected 2026 output of more than 250,000 barrels of oil equivalent per day.
Management said the enlarged scale and asset base of NEO NEXT+ should generate operational synergies and stronger cash flow while reinforcing TotalEnergies’ long‑term commitment to the UK oil and gas sector. The deal also allows TotalEnergies to leverage its extensive North Sea operating experience as the largest shareholder, potentially enhancing its strategic influence in a key European upstream market.
More about TotalEnergies SE
TotalEnergies is a global integrated energy company active across oil and biofuels, natural gas, biogas, low‑carbon hydrogen, renewables and electricity. In the UK, it has operated for more than 60 years, employs over 1,800 people, is a major North Sea gas producer, runs a 1.1 GW installed renewables portfolio with 5 GW under development, and is one of the country’s largest business energy suppliers.
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