12:36 - 9.12.2025

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December 9, Fineko/abc.az. TotalEnergies merges its UK oil & gas business with NEO NEXT Energy, forming a new company, NEO NEXT+, which will become the largest independent oil and gas producer on the British shelf. TotalEnergies will receive 47.5% of shares, HitecVision - 28.875%, Repsol UK - 23.625%.

ABC.AZ informs that the new structure will combine shares in large fields, including Elgin - Franklin, Penguins, Mariner, Shearwater, and Kalzin. By 2026, production may exceed 250,000 barrels of oil equivalent per day. The deal strengthens TotalEnergies' position in the UK market and will reduce costs and emissions. Completion is planned in the 1st half of 2026.