TotalEnergies is merging its British North Sea upstream oil and gas assets with HitecVision-backed NEO NEXT Energy to create a new joint venture, NEO NEXT+. The deal, which makes the combined business the region’s largest independent producer, will be 47.5% owned by TotalEnergies and is projected to produce over 250,000 barrels of oil equivalent per day by 2026. Imprima was used for this transaction.