Repsol’s Post

We have signed a transformational agreement to create one of the largest independent North Sea oil and gas companies in the UK. Together with New European Offshore we are creating a joint venture, in which we will hold a 45% share, that leverages the strengths of two strong and complementary operators combining over 30 years of experience in the region. Our operational capabilities in production, development and decommissioning activities will combine with NEO Energy's financial and commercial expertise to create a stronger, more diversified oil and gas company destined to become one of the largest independent producers on the UK Continental Shelf (UKCS). With this transaction, we continue to advance our #RepsolStrategy, actively managing the asset portfolio to focus on key areas, increase value creation and capitalize on synergies that enhance our competitive advantages.