HitecVision/NEO Energy have entered exclusive negotiations to purchase ExxonMobil’s upstream assets in the central and northern North Sea, which, if successful, are expected to result in a signed sales agreement in the first quarter, with close later in the year.

In 2020 NEO completed the acquisition from Total of a portfolio of operated and non-operated assets in the UK North Sea. 

NEO Energy is an independent full-cycle North Sea operator in the UK Continental Shelf backed by HitecVision, a leading provider of institutional capital to the North Sea region’s energy industry. The company operates a high quality, sustainable asset base with a significant scope to grow production organically, by extending the life of its assets, and through acquisitions, to achieve production of 80-100kboe/d.

KeyFacts Energy: NEO Energy UK country profile