Ineos closes Danish deal

The Press and Journal (Aberdeen) - - BUSINESS -

Petro­chem­i­cal gi­ant Ineos has com­pleted its £1bil­lion deal to buy the oil and gas in­ter­ests of Den­mark’s Dong En­ergy.

Ineos said it was now the “biggest pri­vate en­ter­prise op­er­at­ing in the North Sea”.

A to­tal of 430 staff are trans­fer­ring into the group’s oil and gas busi­ness as a re­sult of a deal giv­ing Ineos 50 North Sea li­cences in Den­mark, Nor­way and the UK – equat­ing to an av­er­age of 100,000 bar­rels of oil equiv­a­lent a day.

Ineos oil and gas chief ex­ec­u­tive Geir Tuft said: “Dong En­ergy’s oil and gas busi­ness is a nat­u­ral fit . . . as we con­tinue to grow our oil and gas ac­tiv­i­ties.

Ineos be­gan build­ing a North Sea port­fo­lio in 2015, buy­ing 12 UK North Sea fields from Dea.

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