Ineos to acquire Dong Energy’s oil, gas business
The deal is said to be worth $10 billion and is a part of Ineos’s aim to expand into exploration and production. Under the deal, Ineos will take over decommissioning liabilities of around DKK 7 billion ($1.05 billion) while DONG will hold hedge contracts related to the oil and gas business until end-March, which had a market value of DKK 1.9 billion ($287 million).
DONG produced 100 million barrels/day of oil and gas in 2016, down 115 million barrels/day in 2015.
The reports revealed that Ineos is also planning to acquire 171 million barrels/day Hejre field in the North Sea, development of which was halted more than a year ago.
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