INEOS Energy has announced the acquisition of the Gulf of Mexico business held by CNOOC Energy US, a subsidiary of CNOOC International.
These assets in the Gulf of Mexico are the third major investment by INEOS Energy in the USA, in the past three years, following the 1.4 million tonnes per annum (mtpa) LNG deal completed with Sempra in December 2022 and the acquisition of Chesapeake Energy’s oil and gas assets in South Texas in May 2023.
The deal includes a portfolio of non-operated assets built around two deep water early production assets (Appomattox and Stampede) in the Gulf of Mexico. In addition, INEOS acquires several mature assets and supporting business.
Brian Gilvary, chairman of INEOS Energy says: ‘This is a major step for us into the deepwater Gulf of Mexico, which builds on our growing energy business. INEOS Energy is all about competing in the energy transition to provide reliable, affordable energy to meet world demand as the population continues to grow.’
David Bucknall CEO of INEOS Energy adds: ‘The USA is a very attractive place for INEOS Energy to invest. This is our third deal in three years following the 1.4 mtpa LNG deal with Sempra and the acquisition of Chesapeake Energy’s oil and gas assets in South Texas.’
