Norway’s HitecVision has moved to combine its Aberdeen-based Verus Petroleum business with NEO Energy, another UK-focused oil company in the private equity fund’s stable, writes Rob Watts.
Glenn Corrie, chief executive of NEO Energy, said the integration of Verus was a significant step towards creating a leading UK independent.
Earlier this year, NEO teamed up with Oman’s Petrogas to buy a package of UK North Sea assets from Total in a $635 million deal that will be run by a separate jointly owned subsidiary called Perogas NEO.
