MADRID, March 27 (Reuters) - Spanish oil company Repsol (REP.MC) , opens new tab has agreed to merge its North Sea oil and gas production unit with that of NEO Energy to create a new company called NEO NEXT, it said on Thursday.

The new company, which will be 45% owned by Repsol and 55% owned by NEO Energy, is targeting production of about 130,000 barrels of oil equivalent a day in 2025.

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https://www.reuters.com/markets/deals/repsol-neo-energy-agree-merge-their-north-sea-units-2025-03-27/