- The merger creates NEO NEXT, a leading UKCS producer.
- Repsol holds 45% and NEO UK holds 55% of the joint venture.
- Projected 2025 production is 130,000 boe/d.
Merger Completion
The strategic merger between Repsol Resources UK and NEO Energy has been finalized, resulting in the formation of NEO NEXT Energy Limited. This new entity emerges as a significant player on the UK Continental Shelf (UKCS).
Ownership Structure
The joint venture is structured with Repsol E&P Group holding a 45% stake and NEO UK owning 55%. This equity distribution reflects the contributions and strategic alignment of both parties.
Production Projections
NEO NEXT is projected to achieve a production level of approximately 130,000 barrels of oil equivalent per day (boe/d) by 2025, positioning it as a major producer in the region.
Strategic Focus
The merger combines Repsol's operational capabilities in production, development, and decommissioning with NEO Energy's expertise in financial and commercial matters. This strategic alignment aims to enhance resilience, yield, and growth opportunities in the UKCS and beyond.
