24 May 2017
Established in May 1998
Original turnover of $200 million per annum
In 1998 it employed 400 people.
Today INEOS is the 4th largest chemical company in the world
18,500 employees across 105 manufacturing sites worldwide
Turnover of around $40 billion in 2016
A highly successful privately owned chemical company
that invests in its long-term future and growth
DETAILS
INEOS today announced that it has agreed
to acquire the Dong Oil & Gas Business
from DONG Energy A/S
for an unconditional payment of $1.05bn,
plus a contingent payment of USD 150 million
related to the Fredericia stabilisation plant
and a contingent payment of up to USD 100 million
subject to the development of the Rosebank field.
In acquiring the entire DONG Oil & Gas Business,
the deal positions INEOS as a top ten company
in the North Sea and the biggest privately owned
exploration and production business operating
in this energy basin.
DONG Energy’s Oil & Gas business brings with it
a good mix of long life and development fields,
producing
* an average of 100,000 boepd (in 2016)
in the North Sea,
* with around 570 million boe of commercial
and potential oil and gas reserves
in Denmark, Norway and the UK (West of Shetland).
Jim Ratcliffe,
INEOS chairman
”DONG Energy's Oil & Gas Business is a natural fit for INEOS
as we continue to expand our Upstream interests.
This business is very important to us
at this stage of our growth plans
and we are delighted with the expertise
that comes with it.
We have been successful in our petro-chemical businesses,
focussing on operating our assets safely, efficiently
and reliably and we intend to do the same
with our oil & gas assets.
We are keen on further growth and already see
lots of opportunity within this impressive portfolio
when it transfers to INEOS”.
Media contacts
Richard Longden (INEOS) 0041 21 627 7063 or 0041 7996 26123
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