INEOS completes North Sea gas fields transfer

Offshore staff

ROLLE, SwitzerlandINEOS 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.

12/01/2015

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