REG-TotalEnergies SE UK: TotalEnergies Completes the Merger of its UK North Sea Upstream Assets with NEO NEXT

TotalEnergies SEAnnouncement

30/03/2026 11:30

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20260330:nBw7f1v2ya&default-theme=true


UK: TotalEnergies Completes the Merger of its UK North Sea Upstream Assets
with NEO NEXT

 

TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) announces the completion of the
merger
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fneonext.com%2Fwp-content%2Fuploads%2F2025%2F12%2FStrategic-Merger-with-TotalEnergies-UK-Business.pdf&esheet=54471065&newsitemid=20260329207687&lan=en-US&anchor=merger&index=1&md5=78797f86652c55c8bfd0d2fccd4be789)
between NEO NEXT and TotalEnergies’ UK Upstream Oil & Gas business. The
combined group is renamed NEO NEXT+ and TotalEnergies holds a 47.5%
shareholding interest in it.

Further to this transaction, NEO NEXT+ becomes the largest independent Oil and
Gas producer on the UK Continental Shelf with an expected 2026 production of
over 250,000 barrels of oil equivalent per day.

“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”, said Patrick Pouyanné, Chairman and CEO of
TotalEnergies. “As the new largest shareholder of NEO NEXT+, we are pleased
to bring our extensive UK North Sea operational experience to the new
company.”

About TotalEnergies in the UK

TotalEnergies has been present in the UK for more than 60 years, employing
more than 1,800 people across the energy value chain.

The Company 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 (boe/d).

TotalEnergies is deploying its Integrated Power strategy in the UK, which
combines renewable power production and flexible power generation capacities.
Its renewable portfolio in the country includes 1.1 GW of gross installed
capacity (Seagreen offshore wind farm) and 5 GW under development, in both
offshore wind and solar projects. TotalEnergies also holds a 50% stake in a
1.3 GW combined cycle gas turbine (CCGT) operated in partnership with EPUKI.

TotalEnergies is one of the UK’s largest suppliers of gas and electricity to
businesses and the public sector, offers electric vehicle charging solutions
and markets petroleum products including lubricants, aviation fuel, bitumen
and specialty fluids.

About TotalEnergies

TotalEnergies is a global integrated energy company that produces and markets
energies: oil and biofuels, natural gas, biogas and low-carbon hydrogen,
renewables and electricity. Our more than 100,000 employees are committed to
providing as many people as possible with energy that is more reliable, more
affordable and more sustainable. Active in about 120 countries, TotalEnergies
places sustainability at the heart of its strategy, its projects and its
operations.

@TotalEnergies
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Ftwitter.com%2FTotalEnergies&esheet=54471065&newsitemid=20260329207687&lan=en-US&anchor=%40TotalEnergies&index=2&md5=2c43c4337747f858867869ac3fe55c32)
TotalEnergies
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.linkedin.com%2Fcompany%2Ftotalenergies%2F&esheet=54471065&newsitemid=20260329207687&lan=en-US&anchor=TotalEnergies&index=3&md5=19b9dbbf791fc26ecf23e38365284b5b)
TotalEnergies
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.facebook.com%2FTotalEnergiesFrance%2F&esheet=54471065&newsitemid=20260329207687&lan=en-US&anchor=TotalEnergies&index=4&md5=1d2e537496c7ab98022a09e06baa9950)
TotalEnergies
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.instagram.com%2Ftotalenergies%2F&esheet=54471065&newsitemid=20260329207687&lan=en-US&anchor=TotalEnergies&index=5&md5=e855c1279167bf99ac98ac312caed67a)

Cautionary Note

The terms “TotalEnergies”, “TotalEnergies company” or “Company” in
this document are used to designate TotalEnergies SE and the consolidated
entities that are directly or indirectly controlled by TotalEnergies SE.
Likewise, the words “we”, “us” and “our” may also be used to refer
to these entities or to their employees. The entities in which TotalEnergies
SE directly or indirectly owns a shareholding are separate legal entities.
TotalEnergies SE has no liability for the acts or omissions of these entities.
This document may contain forward-looking information and statements that are
based on a number of economic data and assumptions made in a given economic,
competitive and regulatory environment. They may prove to be inaccurate in the
future and are subject to a number of risk factors. Neither TotalEnergies SE
nor any of its subsidiaries assumes any obligation to update publicly any
forward-looking information or statement, objectives or trends contained in
this document whether as a result of new information, future events or
otherwise. Information concerning risk factors, that may affect
TotalEnergies’ financial results or activities is provided in the most
recent Registration Document, the French-language version of which is filed by
TotalEnergies SE with the French securities regulator Autorité des Marchés
Financiers (AMF), and in the Form 20-F filed with the United States Securities
and Exchange Commission (SEC).

TotalEnergies Contacts 

Media Relations: +33 (0)1 47 44 46 99 l presse@totalenergies.com
(mailto:presse@totalenergies.com) l @TotalEnergiesPR 
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Ftwitter.com%2FTotalEnergiesPR&esheet=54471065&newsitemid=20260329207687&lan=en-US&anchor=%40TotalEnergiesPR&index=6&md5=df4a38b2cd7480bfa864fdff6249b7cc)

Investor Relations: +33 (0)1 47 44 46 46 l ir@totalenergies.com
(mailto:ir@totalenergies.com)



View source version on businesswire.com:
https://www.businesswire.com/news/home/20260329207687/en/
(https://www.businesswire.com/news/home/20260329207687/en/)

TotalEnergies


Copyright Business Wire 2026