INEOS, Shell to jointly explore new oil and gas opportunities in Gulf Of Mexico
The exploration targets areas in tieback distance to the Appomattox platform in the gulf, INEOS said in a statement.
May 5 (Reuters) - INEOS Energy said on Tuesday it will jointly invest in oil and gas exploration and development opportunities in the Gulf of Mexico with Shell Offshore, a subsidiary of Shell.
The exploration targets areas in tieback distance to the Appomattox platform in the gulf, INEOS said in a statement.
INEOS is acquiring a 21% working interest in these assets for an undisclosed amount, consistent with its ownership in Appomattox, Rydberg, the recent Nashville discovery, and the Mattox pipeline," it said.
The partnership will initially focus on three exploration and production opportunities, which include Shell's Fort Sumter discovery, the drilling of the Sisco exploration well, and a further exploration well targeted by the end of 2030, INEOS said.
Source: Reuters