NEO Energy announces it has signed an agreement to acquire 100% of the share capital of JX Nippon Exploration and Production (U.K.) Limited (“JX UK”).

JX UK holds non-operated interests in multiple producing fields and associated infrastructure in the UK North Sea including a 20% interest in the Mariner field and an 18% interest in the Culzean field. The transaction excludes JX UK’s interests in the Andrew Area.

The transaction is subject to approvals from the relevant authorities and regulatory consents.

About NEO Energy

NEO Energy is an independent full-cycle North Sea operator in the UK Continental Shelf backed by HitecVision. NEO is focused on combining value creation from the prospective North Sea basin with high Environmental, Social and Governance standards.

About JX Nippon Oil & Gas Exploration Corporation

JX Nippon Oil & Gas Exploration Corporation has engaged in energy exploration and production (E&P) business around the world for over 40 years. It is a core operating company in the ENEOS Group, one of Japan's leading company groups of comprehensive energy, natural resources, and materials. JX has been continuously carrying out safe and stable operations as operator in Malaysia, Vietnam and Japan for many years.