TotalEnergies Creates NEO NEXT+, UK's Largest Independent Oil and Gas Producer
TotalEnergies finalizes the merger of its upstream activities with NEO NEXT in the UK, creating NEO NEXT+. The group holds a 47.5% stake in the new entity, which targets output of over 250,000 boe/d in 2026.
| Sectors | Oil, Exploration & Production |
|---|---|
| Themes | Investments & Transactions, Energy Asset Transfers |
| Companies | TotalEnergies, NEO NEXT, NEO NEXT |
| Countries | United Kingdom |
TotalEnergies has finalized the merger between NEO NEXT and its upstream Oil & Gas operations in the United Kingdom, creating NEO NEXT+. The French group holds a 47.5% stake in the new entity, which becomes the largest independent oil and gas producer in the UK. NEO NEXT+ is expected to achieve output of over 250,000 barrels of oil equivalent per day (boe/d) in 2026.
A New Dominant Player on the UK Continental Shelf
TotalEnergies has been present in the UK for over 60 years and operated approximately 27% of the country's continental shelf gas production in 2025, with an average daily output of 104,500 boe/d. According to Patrick Pouyanné, Chairman and CEO of TotalEnergies, the transaction "marks an important milestone in the long-term commitment" of the group to the UK oil and gas sector, while aiming to "generate synergies and strengthen cash flow generation." Against a backdrop of persistent geopolitical tensions weighing on oil markets — Trump extends the Iran ultimatum as oil rebounds to 100 dollars per barrel — the formation of a large-scale operator is designed to reinforce NEO NEXT+'s operational resilience.
TotalEnergies employs over 1,800 people in the UK across the full energy value chain. The company says it brings its operational expertise in the British North Sea to NEO NEXT+. The new structure consolidates a diversified portfolio of production assets, though the details of the fields involved were not disclosed in the announcement.
TotalEnergies' Multi-Energy Strategy in the UK
Alongside its Oil & Gas activities, TotalEnergies is deploying its Integrated Power strategy in the UK, combining renewable power generation with flexible production capacity. The group's renewable portfolio in the country includes 1.1 gigawatts (GW) of gross installed capacity through the Seagreen offshore wind farm, and 5 GW under development in offshore wind and solar projects. The UK's offshore wind sector is drawing widespread industrial attention: Vestas announces an offshore nacelle factory in Scotland worth over 250 million euros.
TotalEnergies is also one of the UK's leading suppliers of gas and electricity to businesses and the public sector. The company markets petroleum products — lubricants, aviation fuel, bitumen, and specialty fluids — and offers electric vehicle charging solutions. The creation of NEO NEXT+ reflects the broader wave of consolidation under way in the British North Sea oil and gas sector.
