NEO Energy has agreed to acquire 100% of the share capital of JX Nippon Exploration and Production (UK) Ltd. (JK UK), a subsidiary of JX Nippon Oil & Gas Exploration Corp.
JX UK holds non-operated interests in multiple producing fields and associated infrastructure in the UK North Sea including a 20% interest in Mariner field and an 18% interest in Culzean field. The transaction excludes JX UK’s interests in the Andrew area.
The deal, the purchase price of which is based on an enterprise value of $1.655 billion, is subject to approvals from the relevant authorities and regulatory consents.
NEO Energy is a North Sea operator backed by HitecVision.
