-- INEOS Energy said on Tuesday that it has acquired a 21% stake in Gulf of Mexico assets operated by Shell (SHEL), partnering on three key exploration projects near the Appomattox platform to drive disciplined offshore growth.
This stake adds to INEOS's existing assets in the Appomattox and Rydberg fields, the Nashville discovery, and the Mattox pipeline, the company said.
The partnership initially targets three high-priority projects including the pre-FID Fort Sumter discovery, the drilling of the Sisco exploration well, and a third exploration well slated for completion by 2030, it added.
"We are focusing on areas close to existing infrastructure where we can move quickly, control costs and unlock new production," said David Bucknall, INEOS CEO.