Ineos strengthens grip on Clipper South gas in North Sea

Offshore staff

STAINES, UK – Fairfield Energy has sold its 100% owned subsidiaries Fairfield Acer and Fairfield Cedrus to gas supplier Ineos.

The sale includes Fairfield’s 25% interest in the producing Clipper South field offshore eastern England. Gas is produced via a wellhead platform linked by a 12-in. pipeline to Conoco’s offshore LOGGS trunkline system, which terminates at the Theddlethorpe gas terminal.

Earlier this month Ineos also acquired DEA AG Group’s 50% operated share of Clipper South, and the same company’s operated stake in the Breagh offshore field to the north.

Fairfield’s transaction additionally encompasses minor stakes in what it views as non-core E&P assets. The company says it will now focus on decommissioning of the Dunlin field cluster in the northern North Sea, working with the relevant regulators and authorities.

10/29/2015

 

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