Spain, July 30 -- The strategic merger between Repsol Resources UK and NEO Energy was completed today. The combined group has been renamed NEO NEXT Energy Limited ("NEO NEXT") and becomes one of the largest producers on the UK Continental Shelf (UKCS). The joint venture is owned by Repsol E&P Group (45%) and NEO UK (55%). This equity split reflects the contributions and strategic alignment of both parties in the creation of a market-leading entity in the UKCS, with a projected 2025 production of approximately 130,000 barrels of oil equivalent per day (boe/d).
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