Offshore

Ineos divests Norwegian oil business

The British group will now focus its oil business on the UK and Denmark. PGNIG takes over all the company's Norwegian assets for a price of USD 615 million. Wood Mackenzie describes the deal as a "good exit" for Ineos.
Among other things, Ineos divests its stakes in deepsea project Ormen Lange and the Nyhamna facility, where the extracted gas is processed. | Photo: Shell PR
Among other things, Ineos divests its stakes in deepsea project Ormen Lange and the Nyhamna facility, where the extracted gas is processed. | Photo: Shell PR
by DANIEL LOGAN, MATHIAS JULIUS FALKENGAARD

In a transaction worth USD 615 million, Polish oil firm PGNIG buys Ineos out of Norway, the latter confirms in a statement.

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