TotalEnergies has announced the completion of its merger with NEO NEXT to create what it claims is the largest independent oil and gas producer on the UK Continental Shelf.
The combined group – a merger between the French giant’s UK Upstream Oil and Gas business and the UK-based offshore oil and gas company – has been renamed NEO NEXT+, with TotalEnergies holding a 47.5% interest.
The joint company is expected to produce more than 250,000 barrels of oil equivalent per day in 2026.
Patrick Pouyanné, Chairman and CEO of TotalEnergies said: “The completion of this merger and the creation of NEO NEXT+ marks an important step in TotalEnergies’ long term commitment to the UK oil and gas sector. While contributing to the country’s energy supply, the size and asset portfolio of NEO NEXT+ will foster synergies and enhance the cash flow generation of the company.
“As the new largest shareholder of NEO NEXT+, we are pleased to bring our extensive UK North Sea operational experience to the new company.”
TotalEnergies operated around 27% of the UK Continental Shelf’s gas production in 2025, with average daily equity production of 104,500 barrels of oil equivalent per day.
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