NEO NEXT+ becomes the UKCS’s largest gas producer with TotalEnergies and Repsol
The merger of TotalEnergies and Repsol’s UK assets into NEO NEXT+ creates a 250,000 barrels of oil equivalent per day operator, repositioning the majors in response to the UK’s fiscal regime and basin decline.
| Sector | Pétrole, Gaz, Exploration production, Exploration production |
|---|---|
| Theme | Industrie & Exécution, Stratégie d'entreprise, Innovation & Transformation |
NEO NEXT+ will consolidate the offshore assets of TotalEnergies and Repsol within a vehicle jointly controlled with Norwegian private equity firm HitecVision. The new entity will concentrate around 250,000 barrels of oil equivalent per day by 2026, representing nearly a quarter of total UK Continental Shelf (UKCS) production, marking a turning point in the strategy of European majors in the North Sea.
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