Neo in revised deal for Total UK North Sea package as Petrogas exits

ENERGY VOICE | French oil major Total said it had renegotiated the deal with Norwegian private-equity firm HitecVision, which owns Aberdeen-headquartered Neo, in response to the recent drop in oil and gas prices.

The transaction is now expected to go through by the third quarter of 2020.

Paris-headquartered Total first announced the $635 million (£520m) sale of the assets – inherited via its takeover of Maersk Oil – in July.

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