INEOS E&P Norge AS produces around 33 000 boe/d from the Norwegian Sea. A 93% gas ratio, from three non-operated fields, Ormen Lange (14%), Alve (15%) and Marulk (30%). The business also holds 22 offshore licenses, of which six are operated, and has equity in the Nyhamna Terminal (8%).
Brian Gilvary, Executive Chairman of INEOS Energy said: “This deal represents another positive step in the INEOS Energy journey. The deal allows us to monetise a non-operated, predominantly gas portfolio at an attractive price compared to our hold value. This will further balance our portfolio of oil and gas and open up new opportunities to reinvest further into the energy transition. These assets are a very strong strategic fit for PGNiG and significantly extends their position in Norway."
Read the latest issue of Oilfield Technology in full for free: Oilfield Technology's November/December 2020 issue
The November/December issue of Oilfield Technology begins by reviewing the state of the North Sea before moving on to cover a range of topics, including Drilling Technologies, Deepwater Operations, Flow Control.
Contributors come from Varel Energy Solutions, Gyrodata, Clariant Oil Services, Drillmec and many more.
Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/25032021/ineos-energy-sells-norwegian-oil-and-gas-business-to-pgnig/
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