TotalEnergies (TTE), Repsol, and HitecVision received approval from the European Commission for their acquisition of joint control of Neo Next Energy, the regulator said Monday.

The Commission said it cleared the transaction under the EU Merger Regulation following a simplified merger review procedure.

The transaction, which mainly concerns upstream oil and gas operations in the UK Continental Shelf, would not raise competition concerns due to the companies' limited combined market position, the Commission said.