ROLLE, Switzerland – INEOS has completed its acquisition of all UK North Sea gas fields interests previously held by DEA Deutsche Erdoel, the Germany-based subsidiary of Russian company L1 Energy.
The platforms, infrastructure, and personnel will be transferred to a new London-based operation, INEOS Breagh.
The transaction includes operated stakes in the producing Breagh and Clipper South gas fields in the UK southern North Sea, which provide 8% of the UK’s annual gas production.
INEOS recently announced its intention to become a leading UK player in onshore gas development and is now evaluating additional opportunities offshore in the North Sea.
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