• Wed. Dec 6th, 2023

NEO Energy Finalizes Full Ownership of Western Isles FPSO


Nov 21, 2023

NEO Energy has announced the acquisition of Dana Petroleum’s full equity in the Western Isles FPSO. The transaction is subject to certain conditions, including final investment decision and regulatory approval for the Buchan redevelopment. Under this agreement, NEO Energy intends to redeploy the FPSO at the Buchan field redevelopment.

This oil and gas news comes as Dana Petroleum and NEO Energy join forces to further their respective interests in offshore development. The sale and purchase agreement is expected to bring new opportunities for both companies, as they work together to advance projects in the North Sea.

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