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Ineos closes full acquisition of Hess Denmark

By taking over Hess Denmark ApS for a price of USD 150m, Ineos becomes sole operator of North Sea field Syd Arne in a move meant to support the British group's CCS ambitions in the Scandinavian country.

Photo: Ineos PR

Big transactions involving Danish North Sea oil and gas assets are becoming fewer and far between, making British oil and chemical outfit Ineos Energy's takeover of Hess Corporation's Danish subsidiary for price of USD 150m something of an oddity.

The transaction includes Hess' 61.5 percent interest in the Danish Syd Arne field. This position comes on top of Ineos' existing 36.8 percent holding. At the same time, Ineos acquires 4.8 percent of the Solsort prospect, for which the British group already holds operator status. The deal was first revealed in March but is fully closed as of Monday this week.

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