NEO was founded in July 2019 as an independent full-cycle energy business in the UKCS. We’re backed by HitecVision, a leading private equity investor focused on Europe’s offshore energy industry.
In October 2019 HitecVision integrated its other North Sea firm, Verus Petroleum into NEO; a significant step towards NEO becoming a leading UKCS independent. Verus Petroleum was a successful company in itself that had built a strong portfolio from 2014 onwards, and through this portfolio, NEO acquired historic operating experience.
In 2020 NEO completed the acquisition from Total of a portfolio of operated and non-operated assets in the UK North Sea. This created a solid platform for growth and secured our position as one of the top 10 independent producers in the region.