ABERDEEN, UK – NEO Energy has completed its acquisition of various operated/non-operated interests in the UK North Sea from Total.
The fields, in four producing areas, delivered average production of around 23,000 boe/d and are said to offer substantial development upside. NEO Energy estimates the combined reserves at around 51 MMboe.
Under the transaction the company will assume operatorship of the Quad 15 and Flyndre areas, and an organization of over 60 employees and contractors.
The company is supported by specialist North Sea capital provider HitecVision.
