London-headquartered global chemical company INEOS said today that it has acquired the U.S. Gulf of Mexico business held by CNOOC Energy Holdings U.S.A. Inc., a U.S. subsidiary of China National Offshore Oil
Photo: INEOS
London-headquartered global chemical company INEOS said today that it has acquired the U.S. Gulf of Mexico business held by CNOOC Energy Holdings U.S.A. Inc., a U.S. subsidiary of China National Offshore Oil Company’s CNOOC International Limited unit.
A Reuters report cites “a person with direct knowledge of the matter who was not authorized to speak to media” as saying that INEOS paid just under $2 billion for the assets.
INEOS says that the deal includes a portfolio of non operated assets built around two deep water early production assets (Appomattox and Stampede) in the U.S. Gulf of Mexico. In addition, INEOS will acquire several mature assets and supporting business
The deal increases INEOS Energy’s production globally to over 90 thousand barrels of oil equivalent per day. These assets in the Gulf of Mexico are the third major investment by INEOS Energy in the U.S. in the past three years, following the 1.4 mtpa LNG
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