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Story summary
- TotalEnergies will merge its UK oil and gas assets with NEO NEXT+, creating NEO NEXT+ in which TotalEnergies holds 47.5%, HitecVision 28.875%, and Repsol 23.625%.
- NEO NEXT+ would become the largest independent UK oil and gas producer, targeting over 250,000 barrels of oil equivalent per day by 2026.
- Regulatory approvals are required, with completion expected in 2026.
- TotalEnergies aims to boost UK cash flow and energy supply.
