Offshore staff
LONDON – Hess Corp. has completed the sale of its subsidiary Hess Denmark ApS to INEOS E&P AS for $150 million.
Hess CEO John Hess said: “Proceeds will be used to fund our world class investment opportunity in Guyana.”
INEOS has acquired full control of the Syd Arne oil field in the Danish North Sea. It has also acquired 4.8% of the INEOS-operated Solsort field.
The company currently operates the Siri field area in Denmark. By becoming the operator of Syd Arne, the company said it expects to unlock operational and cost synergies between the two assets.
Brian Gilvary, executive chairman of INEOS Energy said: “The deal represents a major step in reshaping our energy business. It also opens up prospects that can be developed in Denmark’s offshore oil and gas sector, supported by a very promising carbon storage project.”
08/30/2021
